Bunker Global Open Directory News
2024-04-25MABUX: Downward correction to prevail in Global bunker market on April 25.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) headed upwards on Apr. 24:
380 HSFO - USD/MT - 550.35 (+1.61)
VLSFO - USD/MT – 687.76 (+2.01)
MGO - USD/MT – 876.08 (+2.21)
As of Apr. 25, the MABUX MBP/DBP Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered the following price trends across major ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports stayed in the undercharge zone, with underprice premiums widening by $7 in Rotterdam, $5 in Singapore, $4 in Fujairah, and $4 in Houston.
- VLSFO segment: All four ports were underpriced. Undercharge margins increased by $9 in Rotterdam, $8 in Singapore, $8 in Fujairah, and $17 in Houston.
- MGO LS segment: Houston remained the only overpriced port, with the ratio dropping further by $10, and the MDI index approaching the 100-percent correlation mark between market price and MABUX digital benchmark. The other three ports continued to be undercharged, with margins rising by $4 in Rotterdam, $8 in Singapore, and $3 in Fujairah. The MDI index in Rotterdam surpassed the $100 mark again.
We expect Global bunker indices to shift to a slight downward correction on Apr. 25: 380 HSFO – minus 1-3 USD/MT, VLSFO – minus 1-4 USD/MT, MGO LS – minus 2-7 USD/MT.
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