MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated irregular changes on Jun. 14:
380 HSFO – USD/MT – 765.14 (+12.22)
VLSFO – USD/MT – 1092.26 (-0.85)
MGO – USD/MT – 1374.27 (+9.21)
As of Jun. 14, 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 undervalued in three out of four selected ports: Rotterdam – by minus $43 (minus $60 the day before), in Singapore – by minus $77 (minus $102 the day before) and in Fujairah – by minus $33 (minus $43 the day before) This fuel grade remained overcharged in Houston by plus $11 (no changes). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel increased in the most of selected ports. The most significant changes were registered in Singapore where the undercharge level declined by 25 points on Jun. 14.
VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Jun. 14 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $64 (plus $76 the day before), in Singapore by plus $200 (plus $207 the day before), in Fujairah – by plus $171 (plus $163 the day before), in Houston – plus $38 (plus $28 the day before). MDI for VLSFO declined in the most of selected ports. The most significant changes were registered in Rotterdam where the overcharge level decreased by 12 points on Jun. 14.
MGO LS, according to the MABUX MBP /DBP Index, was overvalued in all selected ports on Jun. 14: in Rotterdam – by plus $52 (plus $11 the day before), in Singapore by plus $38 (plus $7 the day before), in Fujairah – by plus $190 (plus $154 the day before) and in Houston – by plus $66 (plus $60 the day before). MDI index for MGO increased in all selected ports. The most significant changes were registered in Rotterdam, where the overcharge level rose by 41 points.
We expect global bunker prices may demonstrate multidirectional changes today. The price for 380 HSFO may decline by 5-8 USD/MT, the price for VLSFO may decrease by 6-10 USD/MT, the price for MGO may increase by 15-25 USD/MT.
Source: www.mabux.com