Americas News
Panama July Bunker Sales Advance to Four-Month High
Marine fuel demand in Panama advanced to the highest level in four months in July.
Panama's total sales reached 412,478 mt in July, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 7.9% from a year earlier, but up by 7.7% from June's level and the highest monthly total since March
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales advance by 9.3% on the year and by by 14.9% on the month in July.
VLSFO sales in Panama lost 7.3% on the year to 293,174 mt in July. HSFO gained 7.3% to 74,117 mt, MGO declined by 8.8% to 10,159 mt and LSMGO sank by 32% to 35,028 mt.
HSFO's share of the total was 18%, up from 15.4% a year earlier.
The number of ships coming to Panama to bunker declined by 4% on the year to 618 in July, taking the average stem size down by 4.1% to about 667 mt. Over the previous 12 months the average stem size was about 682 mt.
The VLSFO price at Balboa averaged $568.50/mt in July, according to Ship & Bunker data, down by 3.1% from June's level and by 43.8% from July 2022.
Singapore's average VLSFO price in July was was $586/mt, down by 0.4% from June's level and by 41.7% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 1.4% on the month and lost 38.5% on the year to $603/mt in July.
