MABUX: Global bunker indices to be mainly stable on Jul 12
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (as index calculated on current prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have any firm trend and changed irregular om July 11:
380 HSFO - USD/MT – 668.08 (-2.69)
VLSFO - USD/MT – 1 006.87 (-9.61)
MGO - USD/MT – 1 287.40 (+0.52)
MABUX MBP/DBP Index (MDI) (comparison of market bunker prices vs. MABUX digital bunker price benchmark) on July 11 gradually shifted towards underestimation zone of bunker fuel. 380 HSFO fuel grade was underpriced in all four selected ports: in Rotterdam - minus $101 (versus minus $89 a day earlier), in Singapore - minus $128 (minus $120), in Fujairah - minus $111 (minus $101) and in Houston - minus $39 (minus $30). Underestimation premium continued to grow moderately in all selected ports.
VLSFO remains the only fuel grade where MDI index continued to register an overpricing on July 11 in all four selected ports: Rotterdam - plus $ 47 (plus $ 81 a day earlier), Singapore - plus $ 264 (plus $ 272), Fujairah - plus $ 235 (plus $247) and Houston - plus $40 (plus $56). The overprice premium in all ports moderately decreased. The most significant change was a 34-point overcharge reduction at the Port of Rotterdam.
In the MGO LS fuel segment, the MDI index on July 11 registered an underestimation in two ports: Rotterdam - minus $ 20 (minus $ 4 the day before) and Singapore - minus $ 19 (minus $ 15). In Fujairah and Houston, MGO LS fuel was overpriced by $243 (plus $214) and $55 (plus $58), respectively. There was no firm dynamics registered in this fuel grade segment on Jul.11: underestimation widen in Rotterdam and Singapore. Overcharge premium rose in Fujairah but narrowed in Houston.
We do not expect any drastic changes in global bunker market today: 380 HSFO – plus-minus 1-4 USD / MT, VLSFO – plus-minus 1-5 USD / MT, MGO LS – plus 10-30 USD/MT.
Source: www.mabux.com
