The Weekly Bunker Outlook was contributed by Marine Bunker Exchange (MABUX)
During the first two weeks of 2021, world bunker indices continued their moderate upward trend. Meantime, the most critical unknowns for the bunker market are still the coronavirus pandemic, the rate and effectiveness of vaccinations that have begun around the world, and how quickly this process will allow the global economy to recover.
The World Bunker Index MABUX continued firm upward evolution over a week. The 380 HSFO index rose from 354.01 USD/MT to 366.94 USD/ MT (+12.93 USD), VLSFO gained 21.00 USD: from 439.00 USD/MT to 460.00 USD/MT while MGO added 16.66 USD and changed from 497.60 USD/MT up to 514.26 USD/MT. The Global Scrubber Spread (SS) (price difference between 380 HSFOs and VLSFOs) has also demonstrated slight widening trend: it has risen by 2.00 USD and averaged USD 88.56 (86.56 USD a week ago). 
SS Spread in Rotterdam has fluctuated during the week in a range of 68-79 USD (compared to USD 53 in October 2020). Average value of SS spread for the week has decreased by 1.00 USD from 76.00 USD last week to 75.00 USD. In Singapore SS Spread has risen during the week by 14 USD: from 90 USD to 104 USD (compared to 63 USD in October 2020). Average weekly SS Spread has gained 2.00 USD: from 93.00 USD last week up to 95.00 USD.
Correlation of MBP Index (Market Bunker Prices) vs DBP Index (Digital Bunker Prices) in the four global largest hubs over the past week showed that 380 HSFO fuel remains undervalued slightly in Rotterdam (minus 7 USD), Singapore (minus 8 USD) and, for the first time, in Fujairah (minus 3 USD), while being still overcharged in Houston (plus 12 USD). VLSFO fuel, according to DBP Index, was slightly overpriced in all selected ports ranging from plus 3 USD (Rotterdam) to plus 27 USD (Houston), except Singapore (minus 2 USD). DBP Index also showed that MGO LS was undervalued in all ports ranging from minus 12 USD (Rotterdam) to minus 28 USD (Singapore), with the exception of Houston (overvalued by 13 USD).
The UK government, though the UK Space Agency, is to fund a project that will use satellite analytics to track the greenhouse gas and pollution emissions of shipping fleets with a new approach to establish emission audits of shipping fleets and their individual vessels. The project builds upon previous work developing analytics solutions for ports and harbours, extending this to coastal and international waters.