Fuel prices on downward trend
According to the weekly outlook of Marine Bunker Exchange (MABUX) for bunker prices, fuel indexes demonstrate a firm downward trend.
In the meantime, the Global Scrubber Spread (SS) – the price differential between 380 HSFO and VLSFO – continued its firm decline over week 47 – minus US$22.05, approaching US$200. In Rotterdam, SS Spread showed an even more significant reduction of US$30, falling to US$170. In Singapore, the price differential of 380 HSFO/VLSFO has narrowed by US$20.
Natural gas prices in Europe continued an upward trend this week with the price of LNG as bunker fuel at the port of Sines in Portugal rising to US$1,806/MT on 21 November.
Over week 47, the MDI (comparison of MABUX market bunker prices (MBP Index) vs MABUX digital bunker benchmark (DBP Index)) continued to register an underestimation of 380 HSFO fuel in all four selected ports. The underprice margins declined slightly and showed: in Rotterdam – minus US$117, Singapore – minus US$120, Fujairah – minus US$180 and in Houston – minus US$73.
“Global bunker indices may continue to trend lower next week ahead the sanctions against
the oil products’ export from Russia to Europe to be imposed on 5 December,” commented Sergey Ivanov, director of MABUX.