Bunker Global Open Directory News
2024-11-18MABUX: Downward trend to persist in Global bunker market on Nov.18.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), edged downwards on Nov.15:
380 HSFO - USD/MT - 518.88 (-2.01)
VLSFO - USD/MT – 595.54 (-3.08)
MGO - USD/MT – 756.89 (-1.85)
As of Nov.15, the MABUX MBP/DBP Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), revealed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Singapore, Fujairah and Houston were in the undercharge zone, with the underprice premium increasing by $9 in Singapore but decreasing by $2 in Fujairah and $3 in Houston. Rotterdam remained the only overcharged port in this bunker segment, with its margin dropping by $1. Houston approached a 100-percent correlation mark between market prices and the MABUX digital benchmark.
• VLSFO segment: Rotterdam and Houston remained undercharged, with the underpricing gap widening by $4 in Rotterdam but narrowing by $3 in Houston. Singapore and Fujairah were overcharged, with overpricing narrowing further by $9 and $7, respectively.
• MGO LS segment: All four ports remained undercharged. The underprice rate rose by $8 in Rotterdam, $11 in Singapore, and $8 in Fujairah, but dropped by $7 in Houston. Singapore's MDI index overcome the $100 mark.
We expect Global bunker indices to continue downward trend on Nov.18: 380 HSFO – minus 3-7 USD/MT, VLSFO – minus 3-7 USD/MT, MGO LS – minus 3-9 USD/MT.
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