MABUX: Global bunker indices to begin upward correction on Nov.19.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), continued its downward movement on Nov.18:
380 HSFO - USD/MT - 515.77 (-3.11)
VLSFO - USD/MT – 591.25 (-4.29)
MGO - USD/MT – 753.94 (-2.95)
As of Nov.19, the MABUX MBP/DBP Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
? HSFO segment: Houston returned to the overcharge zone, joining Rotterdam, with the overprice premium increasing by $9 in Rotterdam and $4 in Houston. Singapore and Fujairah remained undercharged, with the underprice margin decreasing by $5 and $9, respectively. MDI index in both Singapore and Houston is approaching the $100 threshold.
? VLSFO segment: Rotterdam and Houston continued to be undercharged, with the underpricing gap narrowing by $13 in Rotterdam and $5 in Houston. Meantime, Singapore and Fujairah saw widening overpricing margins by $5 and $8, respectively.
? MGO LS segment: All four ports remained undercharged. The underprice rate rose by another $2 in Rotterdam and $6 in Singapore, but dropped by $1 in Fujairah and $4 in Houston. Singapore's MDI index stayed above the $100 mark.
We expect Global bunker indices to shift to an upward correction on Nov.19: 380 HSFO – plus 5-10 USD/MT, VLSFO – plus 5-10 USD/MT, MGO LS – plus 5-14 USD/MT.