Panama. File Image / Pixabay
After two months of relative demand recovery, Panama has seen bunker sales plummet once again for November 2020, according to the latest data from the Panama Maritime Authority (AMP).
Sales for all products on both sides of the Canal totalled 363,735 mt for November 2020, a decline of 19% compared to the 450,193 mt sold during the month in 2019.
With the average stem size remaining robust for the month at 739 mt (in line with the average of 715 mt for the year and well above the 552 mt average stem size in November 2019) the drop is a result of far fewer vessel refuelling.
November 2020 saw 492 vessels lift bunkers, compared to 815 in November 2019.
Of November 2020's 363,735 mt total sales volume, 71.5% was VLSFO, 17.8% HSFO, and 10.7% distillates.
Bunker sales in Panama overall last year have suffered as a result of slowing global trade in the wake of the coronavirus pandemic, with volumes earlier in the year falling some 30% year-over-year.
That trend seemed to have been arrested in September, with volumes down 4.5% and then just 2.6% in October 2020.
Overall, as at the end of November year-to-date bunker sales in Panama are down 10.5% in 2020 vs the same 11-month period in 2019.