November bunker sales in Panama record modest downturn

Bunker sales of VLSFO and LSMGO decreased, both on a total and daily average basis.

Changes in Panama bunker fuel sales from October to November:

• Total sales down 35,000 mt to 426,000 mt
• VLSFO sales down 43,000 mt to 284,000 mt
• LSMGO sales down 100 mt to 46,000 mt
• HSFO sales up 10,000 mt to 93,000 mt
• 0.5% MGO sales up 200 mt to 3,000 mt

VLSFO sales fell by around 13% on the month in November, while LSMGO volumes were broadly flat, edging marginally lower. HSFO sales rose by about 12%.

The pullback in November sales followed a strong October, when volumes had rebounded from the lows of September, according to preliminary data from the Panama Maritime Authority.

Total sales averaged about 13,800 mt/day in November, down from roughly 14,900 mt/day in October.

A total of 595 ships bunkered in Panama’s ports in November, lower than October's 637 ships, while the number of barges operating increased to 28.

The average stem size slipped to around 716 mt, from 724 mt in the previous month.

VLSFO remained the dominant grade in Panama’s bunker market in November, accounting for around 67% of total sales.

HSFO’s share increased to roughly 22%, while MGO volumes made up about 11% of total sales.

Biofuel bunker sales in Panama rose to about 2,200 mt in November, up from roughly 1,600 mt in October, following what appears to have been a single test stem recorded in February.

All biofuel volumes were supplied on Panama’s Atlantic side. Demand for biofuels in the country remains subdued and well below levels recorded at several European bunkering hubs.

At Balboa and Cristobal, VLSFO and LSMGO are available with lead times of 3–6 days, while HSFO requires around 4–7 days.

By Gautamee Hazarika

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