During Week 21, Marine Bunker Exchange (MABUX) World Bunker Index has returned to a phase of moderate upward evolution. 380 HSFO Index increased to US$424.38/mt, VLSFO Index rose to US$522.67/mt, while MGO index jumped to US$617.35/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, fell by US$6.98 to US$600.69/mt.
Furthermore, the average LNG Bunker Index rose by US$6.74, while MGO LS prices for the same period increased by US$9/mt. Since 6 May, MABUX reported that the price of LNG as bunker fuel in Rotterdam has consistently exceeded the price of MGO LS by an average of US$55-65.
Meanwhile, the average Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO – fell slightly to US$98.45. At the same time, SS Spread in Rotterdam has not changed during the week and remained at US$109, however, its weekly average slightly decreased by to US$108.17. In Singapore, the SS Spread fell by US$1, while its weekly average decreased by US$3.00 to US$109.50.
Moreover, the correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (MABUX Digital Benchmark) in the four global largest hubs showed this week that 380 HSFO fuel remained undervalued in all four selected ports with the underestimation margins in all four ports have not changed significantly.
In addition, the underestimation trend of VLSFO, according to MABUX DBP Index, changed irregular this week in Rotterdam, Fujairah and Singapore, while only in Houston DBP Index registers VLSFO overcharge.
As for MGO LS, MABUX DBP Index registered an undercharge of this grade at all selected ports ranging from minus $ 23 (versus minus $ 24 last week) in Houston to minus $ 50 (minus $ 43) in Rotterdam, minus $ 48 (minus $ 50) in Singapore and minus $ 54 USD (versus minus $ 58) in Fujairah. Overall, the MBP/DBP Index margins have remained stable during the week and have not shown significant changes.
