Panama bunker sales fall in September
HSFO sales slumped in September, while VLSFO and LSMGO sales recorded increases.
Changes in Panama bunker fuel sales from August to September:
- Total sales down 27,000 mt to 385,000 mt
- VLSFO sales up 19,000 mt to 266,000 mt
- LSMGO sales up 2,600 mt to 38,000 mt
- HSFO sales down 46,000 mt to 75,000 mt
- 0.5% MGO sales down 2,000 mt to 6,000 mt
Panama’s bunker sales fell by around 7% in September from August, according to preliminary data from the Panama Maritime Authority.
HSFO sales declined heavily in the month. The grade, which can only be burned by ships fitted with scrubbers to clean their exhaust, fell by around 38% to about 75,000 mt. This marks the grade’s lowest monthly volume since July 2023.
The authority recorded no HSFO sales at all on the Atlantic side in September, against about 3,500 mt in August.
Conversely, VLSFO sales moved the other way, rising by about 8%, to around 266,000 mt. LSMGO volumes also gained roughly 7%, while 0.5% MGO sales fell by about 28%.
Total bunker sales averaged about 12,850 mt/day in September, compared to around 13,290 mt/day in August.
Panama’s ports saw 543 ships call for bunkers in September, down from 569 in August and the fewest in any month since June 2024. The number of barges operating rose to 33 from 29.
The average stem size, the volume lifted per ship, fell to around 710 mt in September, from 724 mt the previous month.
VLSFO’s share of the market widened sharply, accounting for approximately 69% of total bunker sales. HSFO’s share narrowed to about 20% from around 29% in the previous month. Total MGO volumes made up roughly 11%.
The bunker market in Panama is strong, and no weather disruptions are expected at Balboa and Cristobal.
VLSFO and LSMGO availability is normal at both the ports, with recommended lead times of 3-6 days. HSFO needs slightly longer, with typical lead times of 4-7 days, a source said.
By Gautamee Hazarika
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