MABUX: Global bunker market is in a stable state on Sep.20.
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have firm trend on Sep.17:
380 HSFO - USD/MT – 476.57 (-1.36)
VLSFO - USD/MT – 573.85 (+1.29)
MGO - USD/MT – 667.05 (+0.88)
The MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region – showed moderate growth on September 20: 1055.25 USD / MT (plus 1.52 USD). The MABUX LNG Bunkering Index exceeds the cost of MGO LS in the port of Rotterdam by USD 453.25 (USD 602 / MT as of September 17), the difference in price compared to the day before increased by USD 2.52. LNG bunker indices are available at www.mabux.com.
As of September 17, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade was overvalued in three ports out of four: in Rotterdam - plus $ 1 (plus $ 2 the day before), in Singapore - plus $ 38 (plus $ 41), in Fujairah - plus $ 46 (unchanged). In Houston, 380 HSFO grade was still underpriced by minus $ 13 (minus $ 8).
VLSFO, according to the MABUX MBP / DBP Index, was also overpriced on September 17 at three ports out of four selected: in Rotterdam - plus $ 4 (plus $ 5), in Singapore - plus $ 4 (plus $ 6), in Fujairah - plus $ 4 (plus $ 5). In Houston, this fuel grade was underestimated by minus $ 6 (minus $ 7). In general, the VLSFO’s MBP / DBP Index is close to 100 percent correlation at all selected ports.
As per MABUX MBP / DBP Index, MGO LS remained the only fuel that was underestimated on September 17 in all selected ports. Underpriced margins for MGO LS were registered as: in Rotterdam - minus $ 31 (minus $ 34), minus $ 35 (minus $ 40) in Singapore, minus $ 22 (minus $ 26) in Fujairah and minus $ 12 (minus $ 2) in Houston. The most significant change was the increase of undervaluation ratio in Houston by $ 10.
We do not expect global bunker prices to change significantly today: 380 HSFO – minus 0-3 USD/MT, VLSFO – minus 1-4 USD/MT, MGO LS – plus-minus 1-3 USD/MT.
Source: www.mabux.com