Panama's total sales reached 406,355 mt in May, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 3.5% from a year earlier and up by 5.6% from April's level, according to Ship & Bunker.
VLSFO sales in Panama gained 7.9% on the year to 266,223 mt in May HSFO sank by 19.2% to 101,093 mt, MGO slumped by 50.7% to 6,276 mt and LSMGO declined by 10.4% to 32,763 mt.
The number of ships coming to Panama to bunker declined by 5.7% on the year to 576 in May, the least since February 2022, taking the average stem size up by 2.3% to about 705 mt. Over the previous 12 months the average stem size was about 680 mt.
The VLSFO price at Balboa averaged $585/mt in May, according to Ship & Bunker data down by 6.6% from April's level and by 37.1% from May 2022.
Singapore's average VLSFO price in May was was $574/mt, down by 5.5% from April's level and by 39% from the level seen a year earlier.
Ship & Bunker's G20-VL SFO Index of average prices across 20 leading bunkering ports lost 6.5% on the month and 38.5% on the year to $585.50/mt in May.
