There is no pronounced trend on the World Bunker Market on February 1 - MABUX analysts
The values of the World Bunker Index showed a moderate upward trend on the results of January31 IAA PortNews by Marine Bunker Exchange ( MABUX ).380 HSFO - USD/MT - 567.80 (+8.47)VLSFO - USD/MT - 712.89 (+8.88)MGO - USD/MT - 844.13 (+7.01)
The ratio of MABUX MBP Index (market bunker prices) vs MABUX DBP Index (MABUX digital bunker price benchmark) on January 31 showed that 380 HSFO fuel was already overpriced in three ports out of four selected (against two ports the day before): Rotterdam - plus $16 ( plus $13 a day earlier), Singapore - plus $3 (minus $2) and Houston - plus $42 (plus $19). The only port where the MABUX MBP/DBP Index showed an underestimation of 380 HSFO is Fujairah - minus $8 against minus $9 a day earlier. At the same time, the most significant change was recorded in Houston - an increase in the revaluation level by 23 points.
VLSFO, according to the MABUX MBP/DBP Index, remained overvalued on January 31 in all selected ports: Houston returned to the revaluation zone. In general, VLSFO revaluation levels by ports were: in Rotterdam - plus $27 (plus $29 a day earlier), in Singapore - plus $22 (plus $25), in Fujairah - plus $25 (plus $27) and in Houston - plus $21 (minus $3 ).
MGO LS, according to the MABUX MBP/DBP Index, was undervalued on January 31 in three out of four selected ports: Houston returned to the revaluation zone here again: plus $28 (minus $13 a day earlier). In other ports, the underestimation levels were: in Rotterdam - minus $23 (minus $22), in Singapore - minus $27 (no change) and in Fujairah - minus $31 (minus $27). With the exception of Houston, where the change in the MBP/DBP Index was 41 points, in all other ports the Index had no significant changes.
“We believe that today the world bunker prices will not have a pronounced trend and may change in different directions: 380 HSFO - plus 4-8 USD/MT, VLSFO - plus 6-10 USD/MT, MGO LS - minus 4-18 USD/MT ", the review says.
