MABUX: Global bunker awaits new direction on Jan.07.
MABUX World Bunker Index (as index calculated based on current prices for 380 HSFO, VLSFO and MGO), did not have a firm trend on Jan.06:
380 HSFO - USD/MT - 522.17 (-0.97)
VLSFO - USD/MT – 602.40 (+0.67)
MGO - USD/MT – 767.46 (-0.42)
As of Jan.06, the MABUX Market Differential Index (MDI), which monitors the correlation between market bunker prices (MBP) and the MABUX digital bunker price benchmark (DBP), registered underpricing across all major bunker fuel types in key ports: Rotterdam, Singapore, Fujairah, and Houston:
• HSFO segment: The underprice margin continued rising by $2 in Rotterdam, $3 in Singapore, $9 in Fujairah, and $5 in Houston.
• VLSFO segment: Undervaluation widened further by $1 in Rotterdam, $2 in Singapore, $3 in Fujairah, and $4 in Houston.
• MGO LS segment: The undercharge decreased by $9 in Rotterdam, $3 in Singapore, $2 in Fujairah, and $2 in Houston. The MDI in Rotterdam, Singapore and Fujairah remained above the $100 mark.
We do not expect a sustainable trend in the Global bunker market on Jan.07: 380 HSFO – plus-minus 1-3 USD/MT, VLSFO – plus-minus 1-3 USD/MT, MGO LS – plus-minus 1-3 USD/MT.