According to the weekly outlook of Marine Bunker Exchange (MABUX) for bunker prices, fuel indices demonstrated irregular changes.
The 380 HSFO index rose to US$518.65/MT, the VLSFO index, in turn, fell by US$16.60, reaching US$761.69/MT and the MGO index also lost US$29.85, reaching US$1,130.70/MT.
Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – continued its firm decline over week 46, reaching US$243.04. In Rotterdam, SS Spread also decreased to US$195, while in Singapore, the 380 HSFO/VLSFO price difference has dropped to US$247.
“It is expected that SS Spread will continue narrowing next week,” pointed out a MABUX representative.
The benchmark natural gas prices in Europe and the United States jumped as forecasts point to below-normal temperatures across most of America and a cold spell in northwest Europe this week.
The price of LNG as bunker fuel at the port of Sines in Portugal rose to US$1,716/MT on 14 November.
Thus, the price of LNG exceeds the cost of the most expensive traditional bunker fuel by US$609 also on 14 November, the price of MGO LS in the port of Sines was quoted at US$1,107/MT.
Over week 46, the MDI Index (comparison of MABUX market bunker prices (MBP Index) vs MABUX digital bunker benchmark (DBP Index)) continued to register an underestimation of 380 HSFO fuel grades in all four selected ports.
The underprice margins moderately decreased and showed, in Rotterdam – minus US$120, Singapore – minus US$136, Fujairah – minus US$196 and Houston – minus US$84.
In the VLSFO segment, according to MDI, Houston returned to the overpricing zone, joining Singapore, plus US$1 and plus US$11, respectively. Rotterdam remained undervalued by minus US$42 and Fujairah by minus US$4. Undercharge premium declined slightly, while overcharge increased.
In the MGO LS segment, MDI registered fuel underpricing in two out of four selected ports, Rotterdam – minus US$68 and Houston – minus US$37. Singapore returned to the overpricing zone and joined Fujairah, plus US$11 and plus US$130 respectively. MDI Index did not have a firm trend in this bunker fuel segment.
“The global bunker market is still in a phase of irregular changes looking for a sustainable
trend,” commented Sergey Ivanov, director of MABUX.
