Americas News
Panama November Bunker Sales Dropped by 8.5% On the Year
Panama's total bunker sales in November dropped on both a monthly and yearly basis, according to preliminary data from the Panama Maritime Authority (AMP).
A total of 428,523 mt of conventional bunker fuel was sold in November, which was 8.5% lower than volumes recorded in November 2024 and 7.2% lower than the previous month.
VLSFO sales dropped in November to 284,498 mt - a decrease of 2.4% on the year and a significant 13.2% fall from volumes recorded in October 2025.
About 93,003 mt of HSFO was sold during the month. November HSFO sales were 11.5% higher than the previous month, though they remained 28.8% lower than the volumes recorded in November 2024.
LSMGO sales grew by 19.6% on the year, while MGO sales dropped by 62%.
AMP also reported bio-blended bunker sales for the month. About 2,221 mt of marine biofuel was sold in November, up from the 1,600 mt recorded in October.
A total of 595 ships arrived to take on bunkers in Panama in November, down from 643 in October and 617 in November 2024.
The average stem size was 720 mt, down from 759 mt a year ago. For the year to date, the average stem size has been approximately 709 mt.
In November, 28 barges supplied bunker fuels to ships in Panama -consistent with October's figures.
Total bunker fuel sales reached 4.81 million mt in the first 11 months of this year, an increase of 4.6% from the 4.60 million mt recorded during the same period last year.
The VLSFO price at Balboa averaged $457.5/mt in November, according to Ship & Bunker data, down from the $573/mt average level a year ago.
Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports was $486.5/mt in November, down from $588/mt a year ago.
