Panama bunker sales decline in May

Total and daily average sales of all three conventional fuel grades have decreased.

Changes in Panama bunker fuel sales from April to May:

• Total sales down 90,000 mt to 395,000 mt
• VLSFO sales down 72,000 mt to 246,000 mt
• LSMGO sales down 12,000 mt to 41,000 mt
• HSFO sales down 5,000 mt to 100,000 mt
• 0.5% MGO sales down 2,000 mt to 8,000 mt

Panama’s bunker sales in May decreased significantly from April, according to preliminary data from the Panama Maritime Authority.

The decline was driven primarily by lower VLSFO sales, which fell by about 23% month-on-month. LSMGO sales also dropped by around 22%, while HSFO sales decreased by approximately 5%. Sales of 0.5% MGO were down by about 22% from April levels.

Total bunker sales averaged about 12,730 mt/day in May, compared to around 16,150 mt/day in April.

Panama's ports saw 562 ships call for bunkers in May, down from 679 ships in April, while the number of barges operating edged lower to 30 from 31.

The average stem size declined slightly to around 702 mt in May, from 713 mt in the previous month.

VLSFO retained its position as Panama’s most widely sold bunker fuel in May, representing approximately 62% of total bunker sales.

HSFO's share increased to around 25%, while total MGO volumes accounted for about 12% of overall sales.

Bunker demand in Panama remains steady, even as fuel prices continue to hover at relatively high levels, a trader said.

Supply conditions are comfortable at both Balboa and Cristobal, where VLSFO and LSMGO can be secured with 3-4 days' lead time. HSFO availability is also good, though lead times are slightly longer at 4-5 days.

By Gautamee Hazarika

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