During Week 23, Marine Bunker Exchange (MABUX) World Bunker Index showed moderate irregular fluctuations with the 380 HSFO index decreasing US$440.34/MT, the VLSFO index falling to US$545.08/MT and the MGO index reaching US$630.69/MT.
At the same time, MABUX Amsterdam Rotterdam Antwerp (ARA) LNG Bunker Index - the average price of LNG as a marine fuel in the ARA region, has risen sharply during the week by US$37.02 to US$635.60/MT.
In addition, the average value of the LNG Bunker Index also increased by US$17.03, while the average price for MGO LS for the same period has increased by US$13.66, according to MABUX weekly report.
Accordingly, the average price difference between bunker LNG and MGO LS in Rotterdam has increased significantly reaching US$48.30.
Furthermore, the average weekly Global Scrubber Spread (SS) - the difference in price between 380 HSFO and VLSFO - has risen by US$3.59 during the week and stood at US$105.87.
At the same time, the average value of SS Spread in Rotterdam has also increased to US$116.67, in Singapore, the average SS Spread has also risen to US$117.83.
Thus, the values of the SS Spread index in both ports are almost equal and are well above the US$100 mark, which makes the installation of scrubbers even more cost-effective, according to MABUX.
Moreover, the correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs during the past week showed that all 380 HSFO, VLSFO and MGO LS fuels are undervalued in all four selected ports of Houston, Rotterdam, Fujairah and Singapore.