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MABUX: Global Bunker Market may continue firm upward trend on Sep.24

Friday, 24 September 2021 | 12:00

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) continued upward evolution on Sep.23:

380 HSFO – USD/MT – 478.55 (+3.99)
VLSFO – USD/MT – 577.98 (+6.84)
MGO – USD/MT – 672.27 (+2.08)

The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region – decreased slightly on September 24: 1049.53 USD / MT (minus 1.26 USD). The MABUX LNG Bunker Index exceeds the cost of MGO LS in the port of Rotterdam by 437.53 USD (612 USD / MT as of September 23), the difference in price compared to the day before decreased by 9.16 USD. LNG bunker indices are available at www.mabux.com.

As of September 23, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade was overvalued in two out of four ports. 380 HSFOs overcharge margins were: in Singapore – plus $ 44 (plus $ 48) and in Fujairah – plus $ 45 (plus $ 50). In Rotterdam, the MABUX MBP / DBP Index has registered an underpricing by $ 1 (minus $ 4 the day before) for the first time since September 06. Houston also has recorded the 380 HSFO undercharge by $ 12 (minus $ 6).

VLSFO, according to the MABUX MBP / DBP Index, was overpriced on September 23 in all selected ports: in Rotterdam – plus $ 1 (plus $ 9 compared to the day before), in Singapore – plus $ 4 (plus $ 13), in Fujairah – plus $ 4 (plus $ 14), in Houston – plus $ 9 (minus $ 13). The MABUX MBP / DBP Index correlation for all ports is close to 100-percent mark.

As per MABUX MBP / DBP Index, MGO LS was underestimated on September 23 at all selected ports. Underpriced margins for MGO LS were registered as: in Rotterdam – minus $ 29 (minus $ 21 compared to the previous day), minus $ 30 (minus $ 23) in Singapore, minus $ 42 (minus $ 26) in Fujairah and minus $ 16 (minus $ 5) in Houston. A significant increase of underestimation ratio has been recorded in Fujairah ($ 16) and in Houston ($ 11).

We expect global bunker prices to more up today: 380 HSFO – plus 3-6 USD/MT, VLSFO – plus 5-8 USD/MT, MGO LS – plus 6-11 USD/MT.

Source: www.mabux.com

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