MABUX: Bunker Market Volatility to Persist in August
The global bunker market in July was shaped primarily by geopolitical developments, crude price volatility, regional supply dynamics and logistics constraints. The key market drivers included: Middle East geopolitical tensions: Ongoing uncertainty surrounding the Strait of Hormuz and Red Sea continued to underpin market sentiment, sustaining geopolitical risk premiums across crude oil, marine…
The global bunker market continued its volatile pattern in August, with ongoing geopolitical tensions and crude price fluctuations driving price fluctuations. The MABUX 380 HSFO Index surged 74.07 USD, rising from 550.68 USD/MT to 624.75 USD/MT, surpassing the 600 USD/MT threshold. The MABUX VLSFO Index matched this upward momentum, increasing 78.92 USD to reach 785.55 USD/MT.
The MABUX MGO LS Index achieved the highest monthly gain of 259.55 USD, climbing from 1,085.19 USD/MT to 1,345.16 USD/MT. The MABUX Global Scrubber Spread widened by 4.85 USD in July, while monthly averages rose by 8.12 USD. In Rotterdam, the SS Spread fell by 1.00 USD, while the monthly average increased by 32.33 USD. In Singapore, the 380 HSFO/VLSFO spread expanded by 11.00 USD, with the monthly average growing by 34.45 USD.
The SS Spread and other regional indices remained well above the $100 breakeven level, underscoring the economic advantage of utilizing 380 HSFO with scrubbers over conventional VLSFO. Analysts anticipate the SS Spread to stay above the breakeven level in August, subject to developments in the Middle East.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.