Americas News
Panama May Bunker Volumes Slip Marginally but Remain 14% Higher YoY
Marine fuel demand in Panama dipped slightly in May, marking a second consecutive monthly drop.
Panama's total sales reached 453,397 mt in May, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 1.2% from April's level, but still 13.9% higher than a year earlier.
Singapore, the world's largest bunkering hub, saw May's total sales gain 1.1% on the year and by 10.7% from April's level.
VLSFO sales in Panama gained 13.2% on the year to 276,907 mt in May. HSFO gained 6.2% to 125,872 mt, MGO sank by 5.85% to 3,525 mt, and LSMGO surged by 51% to 47,093 mt.
HSFO's share of the total was 26.9%, down from 27.9% a year earlier.
The number of ships coming to Panama to bunker advanced by 31.6% on the year to 632 in May, taking the average stem size down by 13.4% to about 717 mt. So far this year, the average stem size has been about 728 mt.
The VLSFO price at Balboa averaged $496/mt in May, according to Ship & Bunker data, down from the $498/mt average level in April.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 0.5% on the month to $529/mt in May.
