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 Sep.13:

380 HSFO – USD/MT – 541.45 (-0.89)
VLSFO – USD/MT – 805.36 (+1.34)
MGO – USD/MT – 1 184.36 (+4.37)

As of September 13, the MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. the MABUX digital bunker price benchmark) registered no firm trend in the HSFO segment, irregular changes in the VLSFO segment, and a decrease of both: under- and overvaluation margins in the MGO LS segment.

According to MDI, 380 HSFO fuel grade was undervalued on September 13 in all four selected ports. Underprice ratio was registered as: Rotterdam – minus $90 (minus $103 the day before), Singapore – minus $154 (minus $151), Fujairah – minus $147 (minus $123), Houston – minus $35 (minus $36). The MDI index did not have any firm dynamics in this fuel segment: underestimation dropped in Rotterdam and Houston but rose in Singapore and Fujairah.

In the VLSFO segment, all ports were still overvalued on September 13: Rotterdam – plus $ 21 versus plus $ 10 the day before, Singapore – plus $ 26 (plus $ 16), Fujairah – plus $ 28 (plus $ 44) and Houston – plus $ 28 (plus $33). Overprice margins changed sideways, up in Rotterdam and Singapore and down in Fujairah and Houston.

In the MGO LS segment, the Rotterdam-Singapore pair remained undervalued by minus $45 (minus $49 a day earlier) and minus $80 (minus $86), respectively, while the Fujairah-Houston pair was overvalued by plus $146 (plus $156) and plus $11 (plus $23). The underprice ratio as well as overprice one declined moderately.

We expect Global bunker indices to overturn to downward movement on Sep.14: 380 HSFO – minus 1-4 USD/MT, VLSFO – minus 2-6 USD/MT, MGO LS – minus 10-20 USD/MT.

Source: Mabux.com