MGO Sales Shine as Panama H1 Bunker Sales Rise 3.8% [GRAPH]

Monday August 6, 2018

Despite reports of tough market conditions in Panama this year, in addition to more recent concerns over bunker quality, the latest preliminary data from the Panama Maritime Authority (AMP) show 1H 2018 bunker sales at the port grew 3.8% year-over-year to just over 2.5 million metric tonnes (mt) for all products.

Total fuel oil sales for the period, which make up the vast majority of overall volume, edged up 1.8% y-o-y to 2.27 million mt. But it is distillate sales that have shown the most growth rising to 235,846 mt for 1H 2018, an improvement of 28.4% over the 183,732 mt sold during the six-month period in 2017.

The growth for distillate sales was particularly evident during June, with AMP data indicating sales of 37,448 mt for the month, an increase of 53.6% over June 2017.

Fuel oil sales in June were down 4.8% year-on-year to 324,694 mt, putting June sales for all product at 362,142 mt, down 0.9% year-over-year.