Bunker Global Open Directory News
2024-12-05MABUX: Global bunker market to turn into slight downward movement on Dec.05.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed minimal fluctuations without a clear trend on Dec. 04:
380 HSFO - USD/MT - 515.07 (-0.24)
VLSFO - USD/MT – 588.94 (+0.04)
MGO - USD/MT – 751.95 (+0.50)
As of Dec. 04, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered underpricing for every bunker segment across key ports: Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: Rotterdam and Houston reentered the undercharge zone, joining Singapore and Fujairah. The underprice premium widened by $6 in Rotterdam, $8 in Singapore, $9 in Fujairah, and $10 in Houston. The MDI index in Rotterdam remained near a 100-percent correlation mark between MBP and DBP.
• VLSFO segment: Singapore and Fujairah reverted to underpricing, resulting in all four key ports being undervalued. The underprice gap increased by $10 in Rotterdam, $8 in Singapore and Fujairah, and $11 in Houston. The MDI indexes in Singapore and Fujairah remained close to a 100-percent correlation mark between the market price and the MABUX digital benchmark.
• MGO LS segment: Houston returned to the undercharge zone with the margin increase of $11. The other three ports were undervalued as well. The underprice gap rose by $4 in Rotterdam, and $6 in both Singapore and Fujairah. Rotterdam’s and Singapore’s MDI exceeded the $100 mark, while Houston maintained near-total alignment between MBP and DBP.
We expect Global bunker indices to shift to a slight downward trend on Dec.05: 380 HSFO – minus 3-6 USD/MT, VLSFO – minus 3-8 USD/MT, MGO LS – minus 5-10 USD/MT.
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