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Home The Weekly MABUX Bunker Index MABUX expects global bunker indices to remain rangebound

MABUX expects global bunker indices to remain rangebound

Marine Bunker Exchange (MABUX) worldwide bunker indices did not have a clear pattern and moved sideways during the ninth week of the year. The 380 HSFO index fell by US$0.46 to US$477/MT this week. In turn, the VLSFO index dropped by US$0.55 to US$666/MT, while the MGO index, on the other hand, increased by US$10.59 to US$949/MT.

“The Global bunker market was experiencing erratic changes at the time of writing,” noted a MABUX official.

In the meantime, the Global Scrubber Spread (SS), the price differential between 380 HSFO and VLSFO, showed no notable variations in the ninth week, falling by US$0.09. Additionally, the monthly average fell by US$13.52. In Rotterdam, SS Spread increased by US$4 to US$160, but the weekly average was down US$19. The 380 HSFO/VLSFO price differential in Singapore was the most significant: minus US$12, falling to US$167. The monthly average decreased by US$32.

“We expect SS Spread to continue a downward trend next week,” added a MABUX official.

On 28 February, the price of LNG as a bunker fuel at the port of Sines (Portugal) maintained its moderate drop, reaching US$1,062/MT. On 28 February, the price differential between LNG and conventional fuel was US$152: MGO LS at the port of Sines was US$910/MT that day.

“The price difference continues to gradually decrease. We expect this trend to continue next week,” said a MABUX official.

During Week 09, the MDI index recorded a fuel 380 HSFO decline in all four chosen locations. The average estimate ratio continued to fall, reaching US$105 in Rotterdam, US$99 in Singapore, US$122 in Fujairah, and US$62 in Houston. The most substantial narrowing of SS Spread was observed at Fujairah by US$30.

According to MDI, the three chosen locations in the VLSFO segment – Rotterdam, Singapore, and Fujairah – are still underpriced by minus US$55, minus US$18, and minus US$20, respectively. The weekly average of underestimation rose significantly in all three locations. Houston stayed the only overpriced port in this fuel category – an extra US$30 – while the overpricing rate expanded.

In the MGO LS category, three ports are underestimated: Rotterdam, Singapore, and Houston. The weekly average underpricing premium expanded slightly to minus US$88, minus US$88, and minus US$61, respectively. Fujairah stayed the only port that was overpriced – plus US$174. The most notable shift in this bunker fuel segment was a 19-point rise in the average undervaluation ratio at Houston.

“The global bunker market is in the phase of a sustainable trend formation. We expect the global bunker indices to remain rangebound next week,” stated Sergey Ivanov, director of MABUX.





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