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MABUX: Downward changes to prevail in Global Bunker market on Sep. 22

Thursday, 22 September 2022 | 13:00

MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated slight irregular changes on Sep. 20:

380 HSFO – USD/MT – 518.76 (-3.88)
VLSFO – USD/MT – 785.84 (-2.21)
MGO – USD/MT – 1 114.70 (+12.37)

380 HSFO fuel grade, according to MDI (comparison MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker benchmark)), were undervalued on Sep. 21 in all selected ports. The underestimation premium was registered as: Rotterdam – minus $106 (minus $102 the day before), Singapore – minus $146 (minus $150 the day before), Fujairah – minus $160 (minus $142 the day before), in Houston – by minus $64 (minus $43 the day before). MDI declined for most of selected ports. The most significant changes were registered in Fujairah and Houston, where the undercharge level increased by 18 and 21 points respectively.

In the VLSFO fuel grade segment, all four selected ports, according to the MDI index, were in the overcharge zone: Rotterdam – plus $12 (no changes), Singapore – plus $53 (plus $38 the day before), Fujairah – plus $50 (plus $45 the day before) and Houston plus $25 (plus $16 the day before). As per MDI – upward trend is registered in the VLSFO segment: the overcharge premium increased in all selected ports except of Rotterdam. The most significant changes were registered in Singapore, where the overcharge level increased by 15 points.

MGO LS was undercharged in three out of four selected ports: in Rotterdam – by minus $22 (minus $19 the day before), in Singapore – by minus $58 (minus $75 the day before), in Houston – by minus $11 (plus $1 the day before). This fuel grade remained overcharged in Fujairah – by plus $214 (plus $220 the day before). MDI index in MGO LS segment declined for most of selected ports. The most significant changes were registered in Singapore (the undercharge level declined by 17 points) and in Houston (the overcharge level declined by 12, as a result, this fuel grade became undercharged).

We expect Global bunker prices may demonstrate downward changes on Sep.22: the price for 380 HSFO may decrease by 2-4 USD/MT, VLSFO – by 4-6 USD/MT, MGO LS – may decline by 7-10 USD/MT.

Source: Mabux.com

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