Panama bunker sales rose to 16-month high in July

More vessels arriving to bunker contributed to push Panama’s total bunker sales up by 13% in July.

Changes in Panama bunker fuel sales from June to July:

• Total sales up 51,000 mt to 437,000 mt
• HSFO sales up 22,000 mt to 131,000 mt
• VLSFO sales up 22,000 mt to 258,000 mt
• LSMGO sales up 3,000 mt to 37,000 mt
• 0.50% MGO sales up 4,000 mt to 11,000 mt

The number of ships bunkering in Panama’s ports rose by a massive 57 on the month, to 573 in July. This was the highest figure since October last year. The average stem size was roughly 762 mt in July, up by 14 mt from June, according to preliminary figures from the Panama Maritime Authority.

In July, sales of LSMGO and VLSFO increased by 9% each. HSFO sales increased by 20% on the month and were at their highest level since April 2022.

Two barges were added in Panama, bringing the total count to 31 barges in July.

Despite the monthly increase in sales in July, bunker-only calls fell by 7%, or 45 calls, compared to July last year.  Sales of VLSFO experienced the biggest decline, with a 12% decrease compared to last year.

VLSFO continued to be the most sought-after product, accounting for 61% of total sales in Panama. HSFO sales represented 28% of the total, and combined MGO sales 10%.

Last week, the Panama Canal Authority raised the maximum authorised draft limit for vessels transiting the Neopanamax locks to 49 feet, up from the previous limit of 48 feet. Starting in September, the Panama Canal will also increase the number of daily transit slots from 34 to 36, further improving its capacity to handle maritime traffic.

Demand for VLSFO and LSMGO was good in Panama’s ports of Balboa and Cristobal last month. Product availability was also normal, and most suppliers were able to supply both fuel grades with a lead time of 4-5 days.

By Debarati Bhattacharjee

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