Supply in Cristobal was tight on Thursday.
Supply remained tight in Panama on Thursday amid concerns over potential disruption to the Cristobal terminal, according to sources quoted by Platts.
Ship & Bunker data shows the price indication for IFO380 in Cristobal and Balboa gained $8.00 per metric tonne (pmt) yesterday to $644.50 pmt and they were two of only a small number of ports that saw a price gain.
Platts quoted a source saying they had heard deals done at $645.00 pmt for the product, with another trader saying, "two suppliers told me no avails, two others claimed that shortages were getting more extreme."
if terminals are really closed nobody can work cargo nor load bunkers
"The tight availabilities may be the result of the ongoing strike in Colon, where the Cristobal terminals are located, interrupting harbor operations," another trader was quoted as saying.
Rioting in Panama which began after the nation's legislature agreed to a measure allowing privatisation of lands in the Colon Free Zone on the Panama Canal has interrupted the flow of cargo at the Manzanillo International Terminal.
"We heard public terminals will be closed and this is delaying everything," another bunker trader said. "It's been going on two or three days ... if terminals are really closed nobody can work cargo nor load bunkers."