Panama’s June bunker demand softens amid 25 fewer bunkering ships
Sales of VLSFO and HSFO fell in June, both on a total and daily average basis.
Changes in Panama bunker fuel sales from May to June:
- Total sales down 22,000 mt to 431,000 mt
- VLSFO sales down 10,000 mt to 267,000 mt
- HSFO sales down 8,000 mt to 118,000 mt
- LSMGO sales down 7,000 mt to 40,000 mt
- 0.50% MGO sales up 2,000 mt to 6,000 mt
Total sales averaged 13,900 mt/day in June, down from 14,600 mt/day in May. This marks the third consecutive monthly decline, according to preliminary figures from the Panama Maritime Authority.
VLSFO sales declined by 4% on the month, while LSMGO sales declined by 14%. HSFO volumes fell by 6% from May levels.
The number of ships bunkering in Panama’s ports decreased by 25 to 607 in June, 91 more than in the same month last year.
The average stem size dropped to 710 metric tons (mt) this month, from 717 mt in May. The number of barges operating in Panama remained at 29, unchanged from last month.
VLSFO continued to dominate Panama’s bunker market in June, accounting for around 62% of total sales.
HSFO accounted for roughly 27%, while the combined MGO grades contributed about 11%.
Panama's bunker market has improved since June and demand has picked up compared to previous weeks. Availability is decent in the ports of Balboa and Cristobal, a source confirmed.
VLSFO and LSMGO can be delivered with lead times ranging between 4-5 days, and HSFO in four days.
By Gautamee Hazarika
Please get in touch with comments or additional info to news@engine.online
