Americas News
Panama October Bunker Sales Jump to Seven-Month High
Marine fuel demand in Panama advanced to the highest level in seven months in October.
Panama's total sales reached 443,448 mt in October, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 4.5% from a year earlier, but up by 12.7% from September's level and the highest monthly total since March.
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales advance by 3.2% on the year and by by 3% on the month in October.
VLSFO sales in Panama lost 7.5% on the year to 297,161 mt in October. HSFO gained 12.9% to 94,185 mt, MGO declined by 51.9% to 4,624 mt and LSMGO sank by 4.9% to 37,478 mt.
HSFO's share of the total was 21.7%, up from 18.4% a year earlier.
The number of ships coming to Panama to bunker declined by 3.1% on the year to 636 in October, taking the average stem size down by 1.5% to about 682 mt. Over the previous 12 months the average stem size was about 678 mt.
The VLSFO price at Balboa averaged $646.50/mt in October, according to Ship & Bunker data, down by 2.2% from September's level and by 9.8% from October 2022.
Singapore's average VLSFO price in October was $668.50/mt, up by 0.8% from September's level but down by 7.9% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 0.3% on the month and 10.4% on the year to $672.50/mt in October..
