Image Credit: Ship & Bunker / Data Credit: AMP

• January bunker sales rose by 2.3% on the year
• VLSFO sales up 7% year-on-year
• HSFO sales down 11.9% year-on-year
• LSMGO sales up 12% year-on-year
• 674 bunker calls recorded in January, up 5% on the year

Panama's total bunker sales in January rose to the highest since March 2025, according to preliminary data from the Panama Maritime Authority (AMP).

A total of 488,661 mt of conventional bunker fuel was sold in January, 2.3% higher than in January 2025 and 2% higher than in December 2025.

VLSFO sales rose to 328,604 mt in January – up 7% on the year and 11.3% higher than December 2025.

In contrast, HSFO sales fell 11.9% year on year to 103,891 mt and were down 21.1% from December 2025 level.

LSMGO sales grew by 12% on the year, while MGO sales dropped by 16.6%.

A total of 674 bunker calls were recorded in January, up from 642 recorded last year and 656 in December 2025.

No bio-blended bunker sales were recorded in January, marking the second consecutive month.

29 barges supplied bunker fuels in January, down from 30 a year ago and 31 in December 2025.

The average stem size was 725 mt in January, down from 744 mt a year ago and down from 730 mt in December 2025.

The VLSFO price at Balboa averaged $457/mt in January, according to Ship & Bunker data, down from the $593.5/mt average level a year ago.

Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports was $476.5/mt in January, down from $604.5/mt a year ago.