MABUX: Global bunker market to resume upward trend on Nov.22.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), showed a slight decline on Nov.21:
380 HSFO - USD/MT - 518.15 (-0.65)
VLSFO - USD/MT – 596.07 (-0.93)
MGO - USD/MT – 759.60 (-2.04)
As of Nov.21, the MABUX Market Differential Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), revealed the following trends across major ports – Rotterdam, Singapore, Fujairah, and Houston:
HSFO Segment
? Undercharge Zone: Singapore, Fujairah, and Houston, with underpricing premiums narrowing by $4 in Singapore and Fujairah and by $2 in Houston.
? Rotterdam: A 100-percent correlation was observed between market prices and the MABUX digital benchmark.
VLSFO Segment
? Undercharge Zone: Rotterdam and Houston, where the underpricing margins fell by $6 and $4, respectively.
? Overcharge Zone: Singapore and Fujairah, with overpricing rates widening by $7 in Singapore and $3 in Fujairah.
MGO LS Segment
? Undercharge Zone: All four ports remained undercharged. The underprice gap narrowed by:
o $4 in Rotterdam
o $12 in Singapore
o $4 in Fujairah
o $10 in Houston
Additionally, Rotterdam and Singapore's MDI indexes dropped below the $100 mark.
Forecast for Nov. 22
We expect Global bunker market to resume upward trend on Nov.22: 380 HSFO – plus 3-7 USD/MT, VLSFO – plus 3-7 USD/MT, MGO LS – plus 3-9 USD/MT.