Image Credit: Ship & Bunker / Data Credit: AMP

• Panama bunker sales fell 6.5% month on month to 385,368 mt in September.
• HSFO sales dropped 37.8% to 75,470 mt, the lowest since July 2023.
• VLSFO sales rose 7.6% month on month to 265,784 mt.
• Year-to-date bunker sales reached 3.93 million mt, up 0.4% year on year.
• Bunker calls fell to 543 in September from 569 in August.

Panama's total bunker sales fell to a three-month low in September as HSFO sales retreated from August’s high, offsetting gains in VLSFO sales.

385,368 mt of conventional marine fuel was sold during the month, up by 2.5% from September 2025 but down 6.5% from August volumes, according to preliminary data released by the Panama Maritime Authority (AMP) this week.

Despite the monthly decline, a total of 3.93 million mt of bunker fuel was sold in the first nine months of this year, up 0.4% from the same period last year.

Product Breakdown

VLSFO sales gained during the month, with 265,784 mt sold in September, up by 8.1% from last year and 7.6% from the previous month.

However, the increase was offset by a sharp decline in HSFO sales, which fell to their lowest level since July 2023.

HSFO sales totalled 75,470 mt in September, down 11.1% year on year and 37.8% from August.

By comparison, Singapore's HSFO sales in September were 6.4% higher on the year, but were down on the month. 

LSMGO sales declined 4.9% year on year to 38,388 mt, while MGO sales were 17.5% higher on the year to 5,726 mt.

A total of 543 bunker calls were recorded in September, down from 592 in September 2025 and 569 in August 2026.

No bio-blended bunker sales were recorded last month.

33 barges supplied bunker fuels in September, up from 29 in August.

The average stem size in Panama last month was about 710 mt, compared to 724 mt in August.

Sales on the Pacific side rose 4% year on year to 310,320 mt, while Atlantic sales dropped 3.5% to 75,048 mt.