MABUX: Global bunker indices set for downward shift on Feb.24.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed minor fluctuations on Feb.21:
380 HSFO - USD/MT - 523.25 (-0.51)
VLSFO - USD/MT – 616.55 (+1.18)
MGO - USD/MT – 808.32 (+1.22)
As of Feb.21, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP), registered the following trends across key ports: Rotterdam, Singapore, Fujairah, and Houston:
? HSFO segment: Singapore continued to be the only overcharged port, though the premium narrowed by $3. The other three ports were undercharged, with the discount narrowing by $1 in Rotterdam but widening in Fujairah and Houston by $2 and $1, respectively. Rotterdam’s MDI stayed close to a 100% correlation mark between MBP and DBP.
? VLSFO segment: Rotterdam remained the only overcharged port, with the premium decreasing by $2. Singapore, Fujairah and Houston were undercharged, with margins increasing by $5 in Singapore, $2 in Fujairah, and $5 in Houston. MDI in Rotterdam and Singapore stayed near a 100% correlation.
? MGO LS segment: All four selected ports were in the underprice zone. The gap widened by $8 in Rotterdam, $11 in Singapore, $8 in Fujairah, and $21 in Houston. Fujairah’s MDI remained well above the $100 mark.
We expect Global bunker indices to reverse to a downward movement on Feb.24: 380 HSFO – minus 5-8 USD/MT, VLSFO – minus 5-10 USD/MT, MGO LS – minus 7-12 USD/MT.