MABUX: Global bunker prices may demonstrate firm upward evolution on Jun.22

The Bunker Review was contributed by Marine Bunker Exchange (MABUX)

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated slight irregular changes on June 21:

380 HSFO – USD/MT – 448.32 (+3.57)
VLSFO – USD/MT – 550.52 (+3.57)
MGO – USD/MT – 641.46 (-1.40)

The MABUX ARA LNG Bunker Index- the average price of LNG as a marine fuel in the ARA region, decreased slightly on June 22: 619.76 USD/MT (-0.36 USD). The LNG Bunker Index exceeds the cost of MGO LS at the port of Rotterdam by 42.76 USD (577 USD/MT as of June 21), the difference in price compared to the day before has remained practically unchanged. More LNG bunker indices at www.mabux.com.

As of June 21, 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 remained undervalued in all selected ports: from minus $ 28 per Houston (minus $ 29 the day before) to minus $ 42 (minus $ 45) in Rotterdam and minus $ 48 (minus $ 51) in Singapore. There are not any significant changes in 380 HSFO MBP/DBP Index so far.

VLSFO, according to MABUX DBP Index, was also underestimated in all selected ports on June 21, ranging from minus $ 20 in Houston (minus $ 17 the day before) and minus $ 34 (minus $ 37) in Rotterdam to minus $ 48 (minus $ 47) in Fujairah and minus $ 51 (minus $ 46) in Singapore. The most significant change in VLSFO’s MBP/DBP Index was registered in Singapore (undercharge ratio increased by $ 5).

On June 21, MABUX DBP Index also registered the underpricing of MGO LS in all selected ports ranging from minus $ 24 (minus $ 19 the day before) in Houston to minus $ 49 (minus $ 54) in Rotterdam, minus $ 60 (minus $ 59) in Singapore and minus $ 59 (minus $ 61) in Fujairah. The most significant changes in MGO’s MBP/DBP Index were recorded in Houston (undervaluation margin up by $ 5) and Rotterdam (undercharge ratio down by $ 5).

We expect global bunker prices may demonstrate firm upward evolution today: 380 HSFO – plus 7-12 USD/MT, VLSFO – plus 10-15 USD/MT, MGO LS – plus 3-10 USD/MT.

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Tags: MABUX, bunker fuel prices