Bunker Global Open Directory News
2024-12-10MABUX: Global bunker market to move into upward correction Dec.10.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), changed sideways with no definitive trend on Dec. 09:
380 HSFO - USD/MT - 506.99 (-1.07)
VLSFO - USD/MT – 581.75 (-3.19)
MGO - USD/MT – 744.04 (+0.24)
As of Dec. 09, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: All four ports were underpriced, with the underprice premium narrowing by $1 in Rotterdam, $2 in Singapore, $4 in Fujairah, and $3 in Houston. The MDI index in Rotterdam remained close to a 100% correlation mark between MBP and DBP.
• VLSFO segment: Singapore continued to be the only overcharged port, with the margin rising by $1. The other ports stayed in the underprice zone. The undervalue rate decreased by $5 in Rotterdam and $6 in Houston but increased by $1 in Fujairah. Both Singapore and Fujairah remained close to a 100-percent correlation mark between the market price and the MABUX digital benchmark.
• MGO LS segment: All four ports were underpriced, with the undercharge margin declining by $8 in Rotterdam, $12 in Singapore, $11 in Fujairah, and $6 in Houston. Both Rotterdam’s and Singapore’s MDI stayed well below the $100 mark, whilc Houston approached a 100-percent MBP/DBP correlation mark.
We expect Global bunker market to shift to an upward correction on Dec.10: 380 HSFO – plus 2-4 USD/MT, VLSFO – plus 3-6 USD/MT, MGO LS – plus 5-12 USD/MT.
www.mabux.com