MABUX: Global bunker indices to continue changing sideways on Aug.07.
The MABUX World Bunker Index—a composite indicator tracking daily prices for 380 HSFO, VLSFO, and MGO – showed a sustainable downtrend on Aug.06:
380 HSFO - USD/MT - 468.61 (-1.02)
VLSFO - USD/MT – 553.77 (-1.52)
MGO - USD/MT – 767.70 (-3.88)
As of Aug.06, the MABUX Market Differential Index (MDI) - which tracks the correlation between Market Bunker Prices (MBP) and the MABUX Digital Bunker Price Benchmark (DBP)—registered the following bunker price trends at the four key global ports: Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: All four ports remained in the undercharge zone. The underpricing margin narrowed by $6 in Rotterdam, $5 in Singapore, $6 in Fujairah, and $4 in Houston.
• VLSFO segment: All four ports also stayed undercharged. The discount declined by $5 in Rotterdam, $6 in Singapore, $6 in Fujairah, and $7 in Houston. Notably, Rotterdam’s MDI approached the 100-percent correlation mark between MBP and DBP.
• MGO LS segment: Rotterdam moved into the overcharge zone, becoming the only overpriced port in this category, with the premium rising by $13. The other three ports remained undercharged, with the discount narrowing by $12 in Singapore, $15 in Fujairah, and $19 in Houston. Rotterdam’s MDI stayed near full MBP/DBP correlation, while Fujairah’s MDI approached the $100 mark.
We expect Global bunker market to continue irregular changes without a firm trend on Aug.07: 380 HSFO – minus 2-4 USD/MT, VLSFO – minus 2-5 USD/MT, MGO LS – plus 3-7 USD/MT.