MABUX: Irregular changes to prevail in Global bunker market on Dec.02.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), displayed irregular changes with no firm trend on Nov. 29:
380 HSFO - USD/MT - 515.50 (+1.26)
VLSFO - USD/MT – 592.26 (-0.54)
MGO - USD/MT – 759.24 (+1.69)
As of Nov. 29, the MABUX Market Differential Index (MDI), which evaluates the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), observed an underpricing trend across all bunker fuel segments in key ports: Rotterdam, Singapore, Fujairah, and Houston:
? HSFO segment: The underprice premium widened by $2 in Rotterdam, and $5 in Fujairah, but narrowed by $4 in Houston. The MDI index in Singapore remained unchanged, while Houston approached a 100-percent correlation line between the market price and the MABUX digital benchmark.
? VLSFO segment: The underpricing margins rose by $4 in Rotterdam, $11 in Singapore, $3 in both Fujairah and Houston. The MDI index in Fujairah is nearing a 100-percent correlation mark between the market price and the MABUX digital benchmark.
? MGO LS segment: The underprice gap decreased by $4 in Rotterdam, $8 in Singapore, and $7 in Fujairah, but increased by $3 in Houston. Rotterdam’s and Singapore's MDI indexes dropped below the $100 mark.
We do not expect Global bunker indices to establish a sustainable trend on Dec.02: 380 HSFO – plus-minus 2-5 USD/MT, VLSFO – minus 2-5 USD/MT, MGO LS – plus-minus 3-6 USD/MT.