The Marine Bunker Exchange (MABUX) World Bunker Index has continued to demonstrate minor multidirectional changes on week 51.
In particular, the 380 HSFO Index rose to US$476.50/MT, the VLSFO index fell to US$606.51/MT, and the MGO index decreased to US$722.42/MT.
The weekly average Global Scrubber Spread (SS), indicating the difference in price between 380 HSFO and VLSFO, showed a moderate decline with US$132.72, while the most significant reduction of SS Spread was recorded in Rotterdam to US$126.
In addition, on December 22, the SS Spread Index in Rotterdam dropped to US$ 115. The average weekly SS Spread in Singapore was more stable, at US$175.
“SS Spread is still above the US$100 psychological mark,” commented a MABUX representative.
Furthermore, on week 51, the MABUX Market Bunker Prices (MBP) Index vs. MABUX Digital Bunker Benchmark (DBP) Index correlation did not register any significant changes in all four world’s largest hubs.
In particular, 380 HSFO fuel remained undervalued in two out of four ports selected: in Singapore, by minus US$6 and in Fujairah, by minus US$3. Regarding Rotterdam and Houston, the MABUX MBP / DBP Index recorded an overcharge of US$8 and US$5, respectively.
“The 380 HSFO MBP / DBP Index is still close to the 100% correlation mark,” noted MABUX.
VLSFO fuel grade, according to the MABUX MBP / DBP Index, remained significantly overpriced at all selected ports: plus US$24 in Rotterdam, plus US$63 in Singapore, plus US$63 in Fujairah and plus US$26 in Houston.
As for MGO LS, the MABUX MBP / DBP Index recorded an underestimation of this fuel grade in three of the four selected ports: in Rotterdam by minus US$32, in Singapore by minus US$13 and in Houston by minus US$9. Only in Fujairah, according to MABUX MBP / DBP Index, MGO LS was overpriced by US$55.
