MABUX: Global bunker indices to trend higher on Mar.12.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight downward movement on Mar.11:
380 HSFO - USD/MT - 500.63 (-3.82)
VLSFO - USD/MT – 578.52 (-7.12)
MGO - USD/MT – 762.93 (-7.31)
As of Mar.11, the MABUX Market Differential Index (MDI), which monitors 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: Rotterdam and Singapore were overcharged, with premiums widening by $5 in Rotterdam and $4 in Singapore. Fujairah and Houston stayed in the undercharge zone, with the discount decreasing by $9 but increasing by $1, respectively. Rotterdam’s MDI remained close to a 100-percent correlation mark between MBP and DBP.
? VLSFO segment: Rotterdam was the only overcharged port, though its margin declined by $1. Singapore, Fujairah, and Houston continued to be undercharged, with the ratio dropping by $7, $4, and $6, respectively. MDI in Rotterdam neared a 100-percent correlation mark between MBP and DBP.
? MGO LS segment: All four selected ports were underpriced, with the gap narrowing by $4 in Rotterdam and Singapore, $7 in Fujairah, and $6 in Houston. Rotterdam’s MDI approached a 100-percent correlation mark between MBP and DBP.
We expect Global bunker indices to resume an upward movement on Mar.12: 380 HSFO – plus 1-3 USD/MT, VLSFO – plus 1-3 USD/MT, MGO LS – plus 2-5 USD/MT.