The Marine Bunker Exchange (MABUX) World Bunker Index has shown irregular changes during the week with the 380 HSFO index declining to US$428.88/mt, VLSFO falling to US$532.63/mt and MGO increasing to US$604.89/mt.
[s2If is_user_logged_in()]At the same time, the global scrubber spread (SS) – the difference in price between 380 HSFO and VLSFO – has not seen any drastic changes during the week and averaged US$104.27.
Furthermore, the SS in Rotterdam has narrowed during the week to US$91, while the average SS for the week has decreased to US$99.33. In Singapore, the SS has slightly declined during the week to US$109.00, however, the average weekly SS index fell to US$112.
The correlation of Market Bunker Price Index (MBP) compared to the MABUX Digital Benchmark Index (DBP) in the four largest global hubs during the past week showed that 380 HSFO remains undervalued in all selected ports in a range from US$4 in Houston to US$26 in Rotterdam.
Additionally, VLSFO according to the DBP Index, is undervalued in a range from US$6 in Fujairah to US$24 in Singapore, in all selected ports except Houston, where it is overpriced by US$20.
Last but not least, the MGO was also overvalued in Fujairah by US$4 and Houston by US$12, while in Rotterdam and Singapore it was underpriced by US$36 and US$39 respectively.
MABUX has also mentioned in its weekly report that after extensive research and development to explore how Carbon Capture and Storage (CCS) can be developed and scaled in maritime, Wärtsilä Exhaust Treatment announced that technological advances could soon enable manufacturers to design and upgrade scrubbers to capture carbon at the point of exhaust.
Furthermore, German energy trader Uniper’s one of two crude processing units at Fujairah came back online on 12 March after an unexpected outage early in the week ended 13 March. The outage, which has crimped product availability at the port, has however led marine fuel premium at the port to reach multi-month highs in recent days.
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