Panama bunker sales rose to seven-month high in May

Panama's total bunker sales increased by 6% in May despite fewer vessels arriving for bunkers.

Changes in Panama bunker fuel sales from April to May:

• Total sales up 22,000 mt to 398,000 mt
• HSFO sales up 4,000 mt to 119,000 mt
• VLSFO sales up 19,000 mt to 245,000 mt
• LSMGO sales up 1,000 mt to 31,000 mt
• 0.50% MGO sales down 3,000 mt to 4,000 mt

The number of ships bunkering in Panama’s ports dropped from 500 in April to 480 in May – the lowest since July 2020. The average stem size was roughly 830 mt in May, up from 750 mt in April, according to preliminary figures from the Panama Maritime Authority.

VLSFO sales grew by 8% on the month and LSMGO sales rose by 5%. HSFO sales gained by 4% to record their highest sales level since June 2022.

Two barges were added in Panama, bringing the total count to 28 barges in May.

Bunker-only calls in May fell by 17%, or 96 calls, compared to May last year. This reduction can be attributed to fewer vessel transits through the Panama Canal, primarily due to low water levels in Gatun Lake.

After months of tightening restrictions due to declining water levels in its reservoirs, the Panama Canal Authority (ACP) has boosted its vessel transit capacity. Booking slots have been raised from 27 to 32 since 16 May, marking a positive shift in Panama’s efforts to combat drought conditions caused by El Niño.

Bunker fuel availability remained good in Panamanian ports last month. Lead times were around 5-7 days for all fuel grades, a source said.

By Debarati Bhattacharjee

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