Bunker Global Open Directory News
2024-05-03MABUX: Global bunker indices to change irregular on May 03.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO) demonstrated a firm downward trajectory on May 02:
380 HSFO - USD/MT - 552.11 (-5.26)
VLSFO - USD/MT – 669.11 (-12.85)
MGO - USD/MT – 853.81 (-16.82)
As of May 02, the MABUX MBP/DBP Index (MDI), monitoring the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), observed the following price trends across major ports: Rotterdam, Singapore, Fujairah, and Houston.
- HSFO segment: All four selected ports indicated undervaluation, with underprice premiums narrowing by $18 in Rotterdam, $24 in Singapore, $18 in Fujairah, and $13 in Houston.
- VLSFO segment: All four ports continued to be in the undercharge zone. Underprice margins decreased in Rotterdam by $4, Singapore by $11, and Fujairah by $17, but increased in Houston by $2. Fujairah's MDI index approached the 100-percent correlation mark between market price and MABUX digital benchmark.
- MGO LS segment: Houston remained the only overpriced port, with the ratio rising by $4. The other three ports were in the undercharge zone, with margins dropping in Rotterdam by $1, but increasing in Singapore by $3 and in Fujairah by $9. The MDI index in Rotterdam remained proximate to the $100 mark.
We do not expect a sustainable trend in the Global bunker market on May 03: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-3 USD/MT, MGO LS –minus 2-6 USD/MT.
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