Panama's bunker industry is still experiencing a sharp downturn from last year. File Image / Pixabay
Panama bunker sales continued to show a sharp year-on-year decrease last month, with August's sales 30% lower than in the same month of 2019.
Total demand dropped to 369,839 mt last month, according to the latest data from the Panama Maritime Authority (AMP), down by 30% from August 2019 but up by 9.7% from July 2020's level.
The number of ships arriving in Panama for bunker fuel sank by 29% on the year to 505 in August, meaning the average stem size fell by 1.5% to about 732 mt.
Panama's VLSFO sales advanced by 3.7% from July's levels to 267,974 mt in August, according to the AMP data, while high sulfur fuel oil sales gained 41% to 59,251 mt.
Marine gasoil climbed by 11% on the month to 11,339 mt, and low sulfur marine gasoil rose by 19% to 31,275 mt.
Global bunker demand has fallen sharply in many ports following measures put in place to address the COVID-19 pandemic. But Singapore, the world's largest marine fuels hub, appears to be escaping this year's doldrums more quickly with year-to-date bunker demand now 5.3% higher than in the same period of 2019.