Bunker demand improved markedly in October. Image Credit: Ship & Bunker / Data Credit: AMP
Bunker demand in Panama climbed on both a monthly and yearly basis in October.
Total sales reached 414,442 mt last month, according to preliminary data from the Panama Maritime Authority (AMP). The total was up by 0.4% from a year earlier and by 6.8% from September's level.
Signs are emerging of a stronger end to the year for global bunker demand after a slowdown in the summer. Singapore's October bunker sales climbed by 8.1% from September's level and by 2.5% on a year-on-year basis.
The number of ships coming to Panama to bunker advanced by 5.2% on the month to 592 in October, taking the average stem size up by 1.6% to about 700 mt. Over the previous 12 months the average stem size was about 717 mt.
VLSFO sales sank by 9.6% from a month earlier to 256,245 mt, while HSFO sales jumped by 43% to 95,384 mt. HSFO took a 23% share of total sales in October, up from 17.2% a month earlier.
MGO sales jumped by 132% on the month to 24,814 mt, while low-sulfur MGO advanced by 39.4% to 37,999 mt.