Panama bunker sales dropped in February
Panama's total bunker sales declined by about 13% in February as fewer vessels arrived for bunkers.
Changes in Panama bunker fuel sales from January to February:
- Total sales down 62,470 mt to 415,430 mt
- VLSFO sales down 42,024 mt to 265,000 mt
- HSFO sales down 9,910 mt to 107,953 mt
- LSMGO sales down 6,353 mt to 35,546 mt
- 0.50% MGO sales down 4,183 mt to 6,931 mt
The number of ships bunkering in Panama’s ports fell by 49 to 593 in February this year, amounting to 109 more ships bunkering as compared to February 2024.
Sales declined by over 50,000 mt from January, reaching 415,430 mt in February—the lowest level since June 2024, when sales stood at 385,716 mt.
The average stem size was 701 mt, smaller than the 744 mt in December, according to preliminary figures from the Panama Maritime Authority.
Three barges were taken out of operation in Panama, bringing the total count to 27 barges last month.
VLSFO sales dropped by about 13.7% on the month, while LSMGO sales fell by 15.2%. HSFO sales saw a sharp decline of about 8.4% on the month and were up by 14.7% on a year-on-year basis.
In February, VLSFO remained the most sought-after product, accounting for 63.8% of total bunker sales. HSFO sales represented about 26%, while combined MGO sales made up 10.2% of the total.
Average daily bunker sales dropped to 14,837 mt in February, the lowest since September 2024, compared to 15,416 mt in January, showing a decline in overall demand.
Bunker fuel availability for prompt deliveries has been tight at Panama’s Balboa and Cristobal ports, with Cristobal facing additional constraints due to a limited number of barges.
VLSFO deliveries currently require a lead time of around 9-10 days, a source said.
By Gautamee Hazarika
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