The Weekly Outlook was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index decreased during the week. The 380 HSFO index has decreased from 407.92 USD/MT to 420.77 USD/ MT (+12.85 USD), VLSFO has added 15.16 USD: from 497.76 USD/MT up to 512.92 USD/MT. MGO LS increased by 12.34 USD from 572.70 USD/MT to 585.04 USD/MT. 
The Global Scrubber Spread (SS) – the difference in price between 380 HSFO and VLSFO –increased during the week and averaged 91.79 USD (87.54 USD last week).
SS Spread in Rotterdam has decreased during the week from 102.00 USD up to 100.00 USD (-2.00 USD), the average SS spread for the week has increased by 6.66 USD from 96.67 last week to 103.33 USD. In Singapore, SS Spread has also slightly decreased during the week - by 3.00 USD: from 115.00 USD to 112.00 USD, while the average weekly SS index rose by 7.33 USD: from 108.17 USD last week to 115.50 USD. 
Correlation of MBP Index (Market Bunker Prices) vs DBP Index (MABUX Digital Benchmark) in the four global largest hubs during the past week showed that 380 HSFO remain undervalued in three selected ports in a range from minus 2USD (Houston) to minus 38USD (Singapore). This kind of fuel is overcharged in Fujairah by 5USD. VLSFO according to DBP Index, is undervalued in a range from minus 7 USD (Rotterdam) to minus 20 USD (Singapore, Fujairah) in all selected ports except of Houston, where it is overpriced by +32 USD. MGO LS was also overvalued in Fujairah (+12USD) and Houston (+9USD). In Rotterdam and Singapore this type of fuel remained underpriced by minus 39USD and minus 40USD respectively.
About 4.20 million metric tonnes (MT) of marine fuel were sold last month at the port of Singapore, that is 2.8% down from the 4.32 million MT recorded a year ago. However, last month’s total represented a 1.9% increase on the 4.12 million mt of marine fuel sales recorded at the global bunker hub in February 2021. A total of 12,822,400 mt of marine fuel was sold during the first three months of 2021. In contrast, during the same period in 2020, the Maritime and Port Authority of Singapore recorded 12,716,700 mt of bunker sales.
Monjasa declared that the company sold 4.9 million MT of bunker fuel in 2020 in spite of a global market contraction due to the pandemic, with volumes in its Southeast Asian business surging by 80%. According to Monjasa’s Annual Report for 2020, in spite of the supply chain dislocation caused by the pandemic and the resulting decline in bunker demand, the company posted an increase in volumes every month last year compared to 2019 levels. The company highlighted notable volume increases in the Americas and Southeast Asia. With high activity levels at the Panama Canal and across the US, the company’s Americas’ business recorded a 22% quantity hike, reaching a total volume of 1.4 million mt for the year.
Source: www.mabux.com