Americas News
Panama September Bunker Sales Drop to Seven-Month Low
Marine fuel sales in Panama sank to the lowest level in seven months in September.
Panama's total sales reached 381,570 mt in September, the least since February, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 1.7% from a year earlier and by 19.2% from August's level.
Singapore, the world's largest marine fuels hub, saw sales gain 0.8% year-on-year in September but drop by 3.6% from August's level.
Panama's September HSFO sales gained 14.7% on the year to 76,514 mt, but sank by 17.2% on a monthly basis. HSFO's share of the total was 20.1%, up from 17.2% a year earlier.
VLSFO lost 6.4% on the year to 265,365 mt, MGO fell by 24.4% to 8,071 mt and LSMGO rose by 16% to 31,620 mt.
September's changes left Panama's Q3 total at 1.3 million mt, up by 11.9% on the year.
The number of ships coming to Panama to bunker fell by 0.9% on the year to 558 in September, taking the average stem size down by 0.8% to about 684 mt. Over the previous 12 months the average stem size was about 703 mt.
The VLSFO price at Balboa averaged $744/mt in September, according to Ship & Bunker prices, down by 10.6% from August's levels but up by 34.4% from September 2021.
Singapore's average price was down by 11% on a monthly basis and up by 24.5% from September 2021, while Ship & Bunker's G20 Index of average VLSFO prices at 20 leading bunkering ports lost 9.8% on the month and gained 32.4% on the year.
