Panama's bunker sales hit lowest since July 2020
Panama's total bunker sales declined by 7% in February, largely influenced by a drop in vessels arriving for bunkers.
Panama bunker sales since January 2020
Changes in Panama bunker fuel sales from January to February:
- Total sales down 25,000 mt to 353,000 mt
- VLSFO sales down 28,000 mt to 220,000 mt
- HSFO sales up 5,000 mt to 94,000 mt
- LSMGO sales down 6,000 mt to 27,000 mt
- 0.50% MGO sales up 4,000 mt to 12,000 mt
The number of ships bunkering in Panama’s ports dropped by 12 to 484 in February – the lowest since July 2020. The average stem size was roughly 730 mt in January, down from 760 mt in January, according to preliminary figures from the Panama Maritime Authority.
VLSFO sales dropped by 11% on the month – also the lowest since July 2020.
Bunker-only calls in February fell by 18%, or 104 calls, compared to February last year. . This reduction can be attributed to decreased vessel transits through the Panama Canal, primarily due to low water levels in Gatun Lake.
In February, the Panama Canal Authority set the daily transits at just 24, significantly lower than the typical average of 36-37.
The authority recently announced plans to increase daily transit slots by three starting March 18, in response to recent rainfall. This will raise the total daily maximum transits to 27 in the Panamax Locks. But the recent action is a positive sign amidst the record drought since last June.
Bunker fuel availability was good in Panamanian ports last month. VLSFO and LSMGO lead times were usually around 3-5 days, while HSFO had lead times of 6-7 days, a source said.
By Debarati Bhattacharjee
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