MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) declined sharply on Jun. 20:
380 HSFO – USD/MT – 734.62 (-26.05)
VLSFO – USD/MT – 1059.93 (-26.99)
MGO – USD/MT – 1373.02(-14.53)
As of Jun. 20, 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 $46 (minus $31 the day before), in Singapore – by minus $81 (minus $77 the day before) and in Fujairah – by minus $32 (minus $54 the day before) This fuel grade remained overcharged in Houston by plus $61 (plus $17 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased in half of selected ports. The most significant changes were registered in Houston where the overcharge level increased by 44 points on Jun. 20.
VLSFO, according to the MABUX MBP /DBP Index, was overcharged on Jun. 20 in all selected ports. The overcharge ratio was registered in Rotterdam – plus $64 (plus $52 the day before), in Singapore by plus $210 (plus $188 the day before), in Fujairah – by plus $261 (plus $197 the day before), in Houston – plus $85 (plus $38 the day before). MDI for VLSFO increased in all selected ports. The most significant changes were registered in Fujairah where the overcharge level increased by 64 points on Jun. 20.
MGO LS, according to the MABUX MBP /DBP Index, was overvalued in three out of selected ports on Jun. 20: in Singapore by plus $26 (plus $64 the day before), in Fujairah – by plus $125 (plus $157 the day before), in Houston – by plus $31 (minus $7 the day before) This fuel grade was undervalued in Rotterdam – by minus $5 (plus $4 the day before). MDI index for MGO decreased in the most of selected ports. The most significant changes were registered in Singapore (overcharge level declined by 38 points) and in Houston (undercharge level increased by 38 points and this fuel grade became overvalued).
We expect global bunker prices may demonstrate irregular changes today. The price for 380 HSFO may change within plus/minus 3-5 USD/MT, the price for VLSFO may change within plus/minus 5-8 USD/MT, the price for MGO may increase by 20-30 USD/MT.
Source: mabux.com