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MABUX: Global bunker market to stay in standby position with no firm trend on Aug 09

Tuesday, 09 August 2022 | 13:00

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have a firm trend and changed irregular on Aug. 08:

380 HSFO – USD/MT – 591.91(+2.11)
VLSFO – USD/MT – 835.68 (-11.83)
MGO – USD/MT – 1 122.11 (-23.32)

As of August 08, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices and the MABUX digital bunker price benchmark) still had no substantial changes: the HSFO segment was mostly undervalued, the VLSFO segment was overvalued, and mixed trends remained in the MGO LS segment.

380 HSFO fuel grade, according to MDI, was undervalued on August 08 in three ports out of four selected: Houston remained the only port with fuel overpriced: plus $59 versus plus $69 the day before. In other ports, the underestimation premium was: Rotterdam – minus $58 (vs. minus $64 a day earlier), Singapore – minus $97 (minus $86) and Fujairah – minus $109 (minus $125). The overestimation was decreasing, while the underestimation was changing insignificantly.

VLSFO fuel grade, as per the MDI index, remained overvalued on August 08 in all four selected ports: Rotterdam – plus $ 33 (plus $ 37 the day before), Singapore – plus $ 57 (plus $ 71), Fujairah – plus $ 152 (plus $ 213) and Houston – plus $70 (plus $77). VLSFO overcharge declined slightly across all ports, with the biggest change being minus 61 points in Fujairah.

Two ports in the MGO LS segment remained in the undervaluation zone on August 08: Rotterdam – minus $1 (minus $28 a day earlier) and Singapore – minus $65 (minus $28). In Fujairah and Houston, the MDI registered fuel overpricing by plus $224 (plus $175) and plus $44 (plus $32), respectively. In the MGO LS segment, the MDI index had no firm trend: in Rotterdam, the underpricing was decreasing, while in Singapore it was rising. Meantime, the fuel overcharge premium in Fujairah and Houston also increased.

We expect Global bunker market does not have any firm trend on August 09: 380 HSFO – plus 5-10 USD / MT, VLSFO – plus 9-14 USD / MT, MGO LS – minus 8-24 USD/MT.

Source: Mabux.com

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