MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) increased on Jan.10:
380 HSFO – USD/MT – 512.82 (+3.46)
VLSFO – USD/MT – 645.42 (+2.98)
MGO – USD/MT – 767.68 (+5.69)
As of Jan.10, 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 overvalued in two out of four selected ports: in Fujairah by plus $1 ($0 the day before), in Houston by plus $13 (plus $9 trhe day before). In Singapore this fuel grade was undercharged by minus $13 (minus $19 the day before), in Rotterdam DBP Index 100% correlates to MBP Index (plus $1 the day before). The most significant changes were registered in Singapore where the undercharge level decreased by $6 on Jan.10.
VLSFO, according to the MABUX MBP / DBP Index, was overcharged on Jan. 10 in three out of four selected ports. The overcharge ratio was registered in Rotterdam – plus $8 (minus $1 the day before), Singapore – plus $48 (plus $33 the day before), in Fujairah – by plus $39 (plus $30). In Houston this fuel grade was undercharged by minus $9 (minus $6 the day before). The most significant changes were registered in Singapore where the overcharge level increased by $15 on Jan.10.
MGO LS, according to the MABUX MBP / DBP Index, was undercharged in three out of four selected ports on Jan.10: in Rotterdam – minus $ 39 (minus $47 the day before), in Singapore – minus $ 30 (minus $36 the day before), minus $2 (plus $3 the day before) in Houston. In Fujairah this fuel grade remained overcharged by plus $11 (plus $7 the day before). The most significant changes were registered in Rotterdam (the decrease of undercharge level by $8).
We expect global bunker prices may demonstrate slight irregular changes. The price for 380HSFO may decline by 3-5 USD/MT, VLSFO may decrease by 4-6 USD/MT, MGO may change within plus/minus 1-3 USD/MT.
Source: www.mabux.com