Image Credit: Ship & Bunker / Data Credit: AMP

• Panama July bunker sales rose 10.6% YoY to 427,985 mt
• VLSFO sales rose 7% YoY, while HSFO jumped 22%
• Bunker calls increased to 629 in July, from 545 in June
• HSFO made up 24.8% of total July sales
• Further draft cuts for vessels transiting the Neopanamax locks are due at the end of this month and next month

Panama’s bunker fuel sales rose to a three-month high in July, supported by an increase in bunker calls, according to preliminary data released by the Panama Maritime Authority (AMP) this week.

427,985 mt of conventional marine fuel was sold during the month, up 10.6% from last year and 11.1% from June’s volume.

Sales of both VLSFO and HSFO increased during the month.

VLSFO sales increased to 277,588 mt in July – the highest since April 2026. The figure was up 7% year on year and 12.1% from June.

HSFO sales totalled 105,996 mt, a jump of 22% from a year earlier and 11.1% from June. HSFO sales were the highest since March 2026.

HSFO accounted for 24.8% of the total July bunker sales, up from a 22.4% share last year.

LSMGO sales declined 0.1% year on year to 36,451 mt, while MGO sales increased 85.6% to 7,950 mt.

A total of 629 bunker calls were recorded in July, up from 575 recorded in July 2025 and 545 in June 2026.

No bio-blended bunker sales were recorded last month.

32 barges supplied bunker fuels in July – up from 30 in June and May. 

The average stem size in Panama last month was about 680 mt, compared to 707 in June.

The increase in bunker activity came as the Panama Canal Authority prepares to further reduce the maximum draft for vessels transiting the Neopanamax locks later this month and in September.

The changes could weigh on vessel transits and bunker demand in the coming months.

The average VLSFO price in Balboa was $734.5/mt last month, according to Ship & Bunker pricing data, down from $787.5/mt in June 2026, but still up from $535.5/mt last year.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports was $760/mt in July, compared to $782/mt in the previous month and $553/mt in July 2025.