Americas News
Panama June Bunker Sales Drop to Nine-Month Low
Marine fuel demand in Panama sank on both a monthly and yearly basis in June, reaching the lowest level in nine months.
Panama's total sales reached 382,955 mt in June, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 11.8% from a year earlier, by 5.8% from May's level and the lowest monthly total since September 2022
Singapore, the world's largest marine fuels hub, saw sales drop by 13% month-on-month in June.
VLSFO sales in Panama gained 6.3% on the year to 274,687 mt in June. HSFO sank by 46.5% to 66,784 mt, MGO advanced by 13.3% to 10,434 mt and LSMGO declined by 25.5% to 31,050 mt.
HSFO's share of the total was 17.4%, down from 28.8% a year earlier.
The number of ships coming to Panama to bunker declined by 12.4% on the year to 558 in June, the least since September 2022, taking the average stem size up by 0.7% to about 686 mt. Over the previous 12 months the average stem size was about 682 mt.
The VLSFO price at Balboa averaged $586.50/mt in June, according to Ship & Bunker data, up by 0.3% from May's level but down by $42.1% from June 2022.
Singapore's average VLSFO price in June was was $590/mt, up by 2.8% from May's level but down by 46.7% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports gained 1.7% on the month and lost 45.2% on the year to $595.50/mt in June.
