Image Credit: Ship & Bunker / Data Credit: AMP

• 444,042 mt of bunker fuels sold in February
• VLSFO sales up 5% on the year
• HSFO sales grew 5.7% on the year, LSMGO up 16.6%
• 609 bunker calls recorded in February

Panama's total bunker sales in February were higher than the volume recorded a year ago, according to preliminary data from the Panama Maritime Authority (AMP) released last week.

A total of 444,042 mt of conventional bunker fuel was sold in February, up 6.7% from February 2025, but 9.1% lower than the previous month of January 2026.

278,198 mt of VLSFO was sold in February, 5% higher than volumes in February 2025, but a significant 15.3% lower than January's.

HSFO sales grew on both a monthly and yearly basis.

About 114,107 mt of HSFO was sold in February, up 5.7% on the year and 9.8% from the previous month of January.

HSFO accounted for 25.7% of total bunker sales in February, down slightly from 25.9% a year earlier.

LSMGO sales grew by 16.6% on the year and MGO sales jumped by 36%.

A total of 609 bunker calls were recorded in February, up from 559 recorded last year, but lower than 674 in January.

No bio-blended bunker sales were recorded in February.

31 barges supplied bunker fuels in February, up from 28 last year and 29 in January.

The average stem size was 729 mt in February, up from 695 mt a year ago.

The VLSFO price at Balboa averaged $528/mt in February, according to Ship & Bunker data, down from the $576/mt average level a year ago.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports was $518.5/mt in February, down from $595/mt a year ago.

Bunker prices have since surged to multi-year highs after US and Israeli forces carried out strikes on Iran on February 28.