Americas News
Panama March Bunker Volumes Jump to Three-Month High
Marine fuel demand in Panama jumped to the highest level in three months in March.
Panama's total sales reached 498,814 mt in March, according to preliminary data from the Panama Maritime Authority (AMP). The total was up by 27.5% from a year earlier, by 19.9% from February's level and the highest monthly total since December.
Singapore, the world's largest bunkering hub, saw total sales climb by 0.5% on the year and by 7.7% from February's level last month.
VLSFO sales in Panama gained 30.9% on the year to 306,752 mt in March. HSFO gained 19.6% to 136,572 mt, MGO sank by 46.3% to 7,992 mt and LSMGO surged by 70.4% to 47,498 mt.
HSFO's share of the total was 27.4%, up from 29.2% a year earlier.
The number of ships coming to Panama to bunker advanced by 37.3% on the year to 666 in March, taking the average stem size down by 7.2% to about 749 mt. So far this year the average stem size has been about 729 mt.
The VLSFO price at Balboa averaged $533.50/mt in March, according to Ship & Bunker data, down by 7.5% from February's level and by 20.4% from March 2024.
Singapore's average VLSFO price in March was $517/mt, down by 9.1% from February's level and by 19.5% from the level seen a year earlier.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 6.8% on the month and 16.6% on the year to $554.50/mt in March.
