No new bunkering licences in Panama this year. File Image / Pixabay
Panama has suspended the award of new bunkering licences for 1 year starting December 19, 2018, local sources have told Ship & Bunker.
The temporary suspension applies to all floating delivery of fuel or lubes.
The move effectively applies to new players coming into the market as those with valid licences intending to renew them, or those in the process of renewing a licence, will be exempt from the suspension.
Panama had been enjoying rising bunker sales in recent years but witnessed a slump in recent months, something local sources say is a result of buyers shunning smaller players judged to have mismanaged last year's "bad bunker" quality claims.