12 C
Hamburg
Monday, May 20, 2024
Home The Weekly MABUX Bunker Index MABUX global prices continue to grow

MABUX global prices continue to grow

The Marine Bunker Exchange (MABUX) global indices continued to rise in Week 37. The 380 HSFO index increased by US$8.95. In turn, the VLSFO index rose by US$9.12, while the MGO index increased by US$21.67.

"Bunker indices were still rising at the time of publication," commented a MABUX official.

The Global Scrubber Spread (SS) - the price difference between 380 HSFO and VLSFO - remained relatively steady, gaining a marginal US$0.17 and reaching US$102.93, up from US$102.76 the previous week. In the meantime, the weekly average increased by US$0.41.

In Rotterdam, the SS Spread fell another US$19, from US$48 last week to US$29 this week. This is the lowest SS Spread value in Rotterdam since 27 April 2020. Rotterdam's weekly average SS Spread decreased by US$12.33 as well.

In Singapore, the price differential between 380 HSFO/VLSFO throughout the week fell by US$5, breaking past the US$100 mark. The weekly average fell by US$10.66. "Given the current dynamics, it is expected that the SS Spread may continue to contract next week," stated a MABUX official.

Following the upward trend in gas indications, the price of LNG as bunker fuel in the port of Sines (Portugal) jumped to US$840/MT on 12 September (an increase of US$82 over the previous week). At the same time, the price differential between LNG and conventional fuel remained nearly steady on September 12: US$214 in favor of LNG vs. US$220 a week earlier: MGO LS was quoted that day at US$1054/MT in the port of Sines.

During Week 37, the MDI index trend remained unchanged: the majority of chosen ports were underpriced for all types of bunker fuel (the ratio of market bunker prices (MABUX MBP Index) and the digital bunker benchmark MABUX (MABUX DBP Index).

Singapore and Fujairah were undervalued in the 380 HSFO class, with the average weekly underpricing remaining steady in Singapore and growing by 8 points in Fujairah. In contrast, the MDI index revealed a minor overpricing in the other two ports, Rotterdam and Houston, with a weekly average decline of 2 points in Rotterdam and 12 points in Houston.

According to MDI, all four selected ports in the VLSFO section were undervalued. In Rotterdam, the average undercharge index increased by 13 points, 13 points in Singapore, 9 points in Fujairah and 13 points in Houston.

All chosen ports in the MGO LS category remained underpriced, with the average undervaluation increasing significantly: 25 points in Rotterdam, 26 points in Singapore, 29 points in Fujairah, and 16 points in Houston.

As a result, the pattern of undervaluation in the worldwide bunker fuel market continues. "We expect the upward trend in the global bunker market to continue next week," said Sergey Ivanov, director of MABUX.





Latest Posts

Bridging the Gap: Understanding Your Options for Immediate Financial Needs

When faced with an unexpected financial hurdle, such as a medical emergency, car repairs, or sudden unemployment, the need for immediate financial solutions becomes...

MSC increases rates for shipments to Valencia and Antwerp

Swiss/Italian container carrier MSC has announced new Freight All Kinds (FAK) rates for shipments to Europe, effective from 1 June until further notice but not...

Hapag-Lloyd announces peak season surcharges for shipments to North America

Hamburg-based box line Hapag-Lloyd has announced new peak season surcharges for shipments destined for North American ports. The German company will apply a new peak...

CFL multimodal and ista Luxembourg ink long-term deal

CFL multimodal, through its subsidiary CFL logistics, and ista Luxembourg S.à r.l have signed a long-term agreement, under which the logistics expert will provide...

MSC launches new weekly North Peru Feeder service

MSC has announced the “North Peru Feeder”, a new dedicated feeder service from Salaverry and Paita in Peru to provide increased port connections and...