Bunker demand in Panama is declining. File Image / Pixabay
Panama's bunker sales have posted a year-on-year decline for the sixth month in a row, with the latest figures for October showing volumes 18.8% lower than in the same month of 2019.
Total demand dropped to 412,622 mt last month, according to the latest data from the Panama Maritime Authority (AMP), down by 2.6% from October 2019 but up by 10% from September 2020's level.
The number of ships arriving in Panama for bunker fuel sank by 18.8% on the year to 566 in October, meaning the average stem size gained 20% to about 729 mt.
Panama's VLSFO sales advanced by 12% from September's levels to 314,721 mt in October, according to the AMP data, while high sulfur fuel oil sales lost 1.5% to 56,200 mt.
Marine gasoil climbed by 11.2% on the month to 9,955 mt, and low sulfur marine gasoil rose by 12.6% to 31,736 mt.
Global bunker demand has fallen sharply in many ports following measures put in place to address the COVID-19 pandemic. But Singapore, the world's largest marine fuels hub, appears to be escaping this year's doldrums more quickly with year-to-date bunker demand now 6% higher than in the same period of 2019.