Two barges added to Panama's bunker market as daily February sales rose slightly

The port's sales of VLSFO and LSMGO decreased because of a shorter month in February, but were up on a daily average basis.

Changes in Panama bunker fuel sales from January to February:

• Total sales down 45,000 mt to 444,000 mt
• VLSFO sales down 50,000 mt to 278,000 mt
• LSMGO sales down 5,000 mt to 41,000 mt
• HSFO sales up 10,000 mt to 114,000 mt
• 0.5% MGO sales up 1,000 mt to 10,000 mt

Panama’s bunker fuel sales mix shifted in February, with VLSFO and LSMGO volumes declining while HSFO sales increased, according to preliminary data from the Panama Maritime Authority.

VLSFO sales fell by around 15% in February, and LSMGO sales by around 12%. HSFO sales increased by roughly 10%.

Daily average sales were around 15,900 mt/day in February, up slightly from 15,800 mt/day in January.

A total of 609 ships bunkered at Panama’s ports in February, down from 674 ships in January, while the number of barges operating rose by 2 to 31.

The average stem size increased marginally to 729 mt, from 725 mt in the previous month.

VLSFO remained the dominant grade in Panama’s bunker market in February, accounting for around 63% of total sales.

HSFO’s share rose to about 26%, while MGO volumes made up roughly 12% of overall sales.

In Panama, bunker demand has increased over the past few weeks, a bunker trader said.

Prompt availability is currently tight for all three conventional fuel types in Balboa and Cristobal. Lead times of at least 5–6 days are advised.

By Gautamee Hazarika

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