Panama. File Image / Pixabay
Panama looks set to record over 5 million mt in annual bunker sales for 2019 following a significantly improved performance during its latest reporting period covering September, October, and November 2019.
Sales during the three month period were, on average, 33% higher month over month compared to the same period in 2018, the latest official data from Panama Maritime Authority (AMP) shows.
Year-to-date sales as at the end of November stand at 4,837,468 mt - 162,532 mt short of the 5 million mark. With only December's figures left to be revealed, monthly sales have not been under 200,000 mt in recent memory.
The performance compares with total annual sales of 4 million mt in 2016, 4.6 million mt in 2017, and 4.5 million mt in 2018.
Perhaps indicative of the impact of IMO2020, the average stem size for the three-month Sep to Nov period was just 610 mt, compared to 718 mt for the Jan to Nov period as a whole.
However, HFO sales were only down slightly, making up just under 87% of the overall sales totals for Sep-Nov compared to the more typical 89% seen earlier in the year.