Panama Marine Fuel Sales Continue to Feel Effect of Limited Canal Transits

by Ship & Bunker News Team
Friday March 29, 2024

February saw Panama record its lowest monthly bunker sales in over three and a half years as the marine fuel industry continued to feel the effects of low water levels limiting transits through the country's Canal.

February sales for all products totalled 352,541 mt, according to the latest data from the Panama Maritime Authority (AMP), the lowest monthly total since the 337,035 mt recoded in July 2020.

As always VLSFO made up the majority of February's sales with 219,607 mt sold. HSFO sales of 94,151 mt and 38,783 mt of distillates were also recoded.

It was also business as usual for Balboa, which accounted for the majority of sales total (77%) with 272,618 mt lifted at the port.

While February's 484 calls for bunkers was also the lowest since July 2020, when 473 bunkering operations were recoded, a relatively robust average stem size in Fenruary 2024 of 728 mt was well above the 2 year average of 695 mt and the third highest since August 2022.