Americas News
Strong December Sends Panama 2022 Bunker Sales to Three-Year High
Bunker sales in Panama hit the highest level in three years in 2022 after a strong performance in December.
Panama's total sales reached 476,109 mt in December, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 2.2% from a year earlier, but up by 15.3% from November's level and the largest monthly total since April.
That left the total for 2022 at 5.23 million mt, 4.3% up on the year and the highest annual figure since 2019.
Singapore, the world's largest marine fuels hub, saw sales rise by 0.9% year-on-year in December and slip by 3.69% from November's level. The city-state's total for 2022 was down by 4.2% on the year to hit a three-year low.
Panama's December VLSFO sales sank by 1.4% on the year to 346,797 mt. HSFO dropped by 13.3% to 73,841 mt, MGO gained 34.3% to 15,012 mt and LSMGO rose by 4.7% to 40,459 mt.
HSFO's share of the total was 15.5%, down from 17.5% a year earlier.
For 2022 as a whole, VLSFO took up 66.3% of sales, HSFO 17.3% and distillates 11.4%. The respective shares a year earlier were 70.4%, 18.4% and 11.2%.
The number of ships coming to Panama to bunker advanced by 3.3% on the year to 713 in December, taking the average stem size down by 5.3% to about 668 mt. Over the previous 12 months the average stem size was about 696 mt.
For 2022 as a whole, the number of bunker calls gained 7.4% on the year to 7,546, and the average stem size slipped by 2.8% on the year to about 693 mt.
The VLSFO price at Balboa averaged $637/mt in December, according to Ship & Bunker data, down by 6.9% from November's levels but up by 9.3% from December 2021.
Singapore's average VLSFO price in December was down by 8.6% from November's level but up by 2.1% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 9% on the month and gained 7.3% on the year to $648.50/mt in December.
