Americas News
Panama Bunker Sales Post Yearly Decline But Rally From February's Eight-Month Low
Bunker sales in Panama continued to decline on an annual basis in March, but rallied from the eight-month low seen in February.
Total sales reached 425,073 mt in March, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 3.8% from a year earlier but up by 12.6% from February's level.
Panama's annual drop in March follows a similar fall in Singapore last month. Bunker demand at the world's largest bunkering hub dropped by 10% on a yearly basis last month but rallied by 7.7% from February's seven-year low.
The number of ships coming to Panama to bunker rose by 8.3% on the month to 614 in March, taking the average stem size up by by 3.9% to about 692 mt. Over the previous 12 months the average stem size was about 700 mt.
VLSFO sales jumped by 10.4% from a month earlier to 253,321 mt, while HSFO sales advanced by 21.1% to 127,635 mt. HSFO took a 30% share of total sales in March, up from 18% a year earlier.
MGO sales surged by 52.9% on the month to 9,487 mt, while low-sulfur MGO declined by 5.7% to 34,630 mt.
