Bunker Global Open Directory News
2024-12-04MABUX: Global bunker indices to resume upward trend on Dec.04.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight decrease on Dec. 03:
380 HSFO - USD/MT - 515.31 (-1.31)
VLSFO - USD/MT – 588.90 (-1.98)
MGO - USD/MT – 751.45 (-5.12)
As of Dec. 03, the MABUX Market Differential Index (MDI), tracking the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), reflected the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Rotterdam moved to the overcharge zone, joining Houston. Rotterdam's overcharge increased by $8, while Houston's premium remained steady. Singapore and Fujairah were underpriced, with the margins decreasing by $5 in Singapore and $6 in Fujairah. The MDI indexes in Rotterdam, Singapore, and Houston hovered near a 100-percent correlation mark between MBP and DBP.
• VLSFO segment: Two ports at once: Singapore and Fujairah, entered the overcharge zone, with overpricing widening by $10 and $5, respectively. Rotterdam and Houston remained undervalued, with the underprice gaps decreasing by $4 in Singapore and $1 in Houston. The MDI indexes in Singapore and Fujairah stayed close to a 100-percent correlation mark between the market price and the MABUX digital benchmark.
• MGO LS segment: Houston moved into the overprice zone, becoming the sole overcharged port in this bunker segment, with the premium rising by $9. The other three ports remained undervalued. The underprice gap decreased by $8 in Rotterdam and Singapore, and by $12 in Fujairah. Rotterdam’s MDI approached the $100 mark, while Singapore’s MDI dropped below this line. Houston stayed close stayed close to full correlation between MBP and DBP.
We expect Global bunker indices to trend higher on Dec.04: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 3-7 USD/MT, MGO LS – plus 5-12 USD/MT.
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