MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) did not have any firm trend and changed irregular on May 26:
380 HSFO – USD/MT – 424.18 (-0.56)
VLSFO – USD/MT – 524.50 (+1.32)
MGO – USD/MT – 618.98 (+2.68)
MABUX ARA LNG Bunker Index – the average price of LNG as a marine fuel in the ARA region, lost 1.72 USD on May 27 and showed 600.69 USD/MT. The LNG Bunker Index exceeds the price of MGO LS at the Port of Rotterdam by $ 54.69 (546 USD/MT as of May 26). More LNG Bunker Indexes on www.mabux.com.
As of May 26, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel remained undervalued in all selected ports: from minus $ 14 in Houston (minus $ 15 the day before) to minus $ 43 (minus $ 44) in Rotterdam and minus $ 57 (minus $ 53) in Singapore. The margin of 380 HSFO undercharge has changed insignificant.
VLSFO, according to MABUX DBP Index, was also underpriced in all ports for the second day in a row, ranging from minus $ 3 (minus $ 5 the day before) in Houston to $ 27 (minus $ 28) in Rotterdam, minus $ 45 (minus $ 37) in Fujairah and minus $ 53 (minus $ 56) in Singapore. The growth of underestimation ratio of VLSFO was registered in Fujairah (up $ 8).
On May 26, MABUX DBP Index also registered the undercharging of MGO LS in all selected ports, ranging from minus $ 27 (minus $ 30 a day earlier) in Houston to minus $ 43 (minus $ 45) in Rotterdam, minus $ 48 (minus $ 52) in Singapore and minus $ 52 (minus $ 47) in Fujairah. In general, as of May 26, the correlation of MBP/DBP Index for all selected ports did not show any firm trend.
We expect global bunker prices may rise slightly today: 380 HSFO may up by 1-2 USD/MT, VLSFO – by 1-3 USD/MT, MGO LS – by 2-4 USD/MT.