Bunker Global Open Directory News
2024-11-21MABUX: Global bunker market to shift to slight downward movement on Nov.21.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued a slight upward movement on Nov.20:
380 HSFO - USD/MT - 518.80 (+0.56)
VLSFO - USD/MT – 597.00 (+1.02)
MGO - USD/MT – 761.64 (+1.24)
As of Nov.20, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Rotterdam joined Singapore, Fujairah and Houston in the undercharge zone, so that all four selected ports are underpriced now in this bunker segment. The underprice premium widened by $10 in Rotterdam, but narrowed by $1 in Singapore, $2 in Fujairah, and $1 in Houston.
• VLSFO segment: Rotterdam and Houston remained undercharged, with the underpricing margin widening further by $8 and $2, respectively. Singapore and Fujairah were in the overcharge zone, with both ports' overpricing rates widening by $1, while MDI indexes for these ports are nearing 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 decreased by $5 in Rotterdam, $7 in Singapore, and $3 in Houston, while remained unchanged in Fujairah. Rotterdam and Singapore's MDI indexes remain well above the $100 mark, indicating significant underpricing.
We expect Global bunker indices to reverse to a slight downward trend on Nov.21: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-3 USD/MT, MGO LS – minus 2-4 USD/MT.
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