Americas News
Panama Bunker Sales Drop to Eight-Month Low
Bunker sales in Panama dropped to the lowest level in eight months in February, falling on both a monthly and yearly basis.
Total sales sank to 377,649 mt in February, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 9.7% from a year earlier and by 16.4% from January's level.
Panama's fall follows a similar drop in Singapore last month. Bunker demand at the world's largest bunkering hub sank to 3.5 million mt in February from 4 million mt in January.
The number of ships coming to Panama to bunker dropped by 7.8% on the month to 615 in February, taking the average stem size down by 9.3% to about 666 mt. Over the previous 12 months the average stem size was about 710 mt.
VLSFO sales sank by 29.3% from a month earlier to 229,359 mt, while HSFO sales jumped by 31.9% to 105,381 mt. HSFO took a 27.9% share of total sales in February, up from 17.5% a year earlier.
MGO sales sank by 19.9% on the month to 6,204 mt, while low-sulfur MGO declined by 7.2% to 36,705 mt.
