Bunker Global Open Directory News

2024-11-20

MABUX: No sustainable trend expected in Global bunker market on Nov.20.

MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight upward movement on Nov.19:

380 HSFO - USD/MT - 518.24 (+2.47)

VLSFO - USD/MT – 595.98 (+4.73)

MGO - USD/MT – 760.40 (+6.46)

As of Nov.19, 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: Houston returned to the undercharge zone, joining Singapore and Fujairah, with the underprice premium increasing by $13 in Singapore, $6 in Fujairah, and $12 in Houston. Rotterdam remained the only overcharged port, with the margin decreased by $22, while port’s MDI index nearing a 100-percent correlation mark between market price and the MABUX digital benchmark.

• VLSFO segment: Rotterdam and Houston were undercharged, with the underpricing gap widening by $14 and $11, respectively. Singapore and Fujairah saw narrowing margins by $12 in Suingapore and $13 in Fujairah. Both ports’ MDI index approached a 100-percent correlation mark between market price and the MABUX digital benchmark.

• MGO LS segment: All four ports continued to be undercharged. The underprice rate rose by another $11 in Rotterdam, $7 in Singapore, $10 in Fujairah and $13 in Houston. MDI index in both Rotterdam and Singapore stayed steady above the $100 mark.

We do not expect a firm trend in the Global bunker market on Nov.20: 380 HSFO – plus-minus 0-2 USD/MT, VLSFO – plus-minus 0-3 USD/MT, MGO LS – plus-minus 1-4 USD/MT.

www.mabux.com