Panama's total sales reached 443,448 mt in October, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 4.5% from a year earlier, but up by 12.7% from September's level and the highest monthly total since March, according to Ship & Bunker.
Singapore, the world's largest marine fuels hub, saw conventional and biofuel bunker sales advance by 3.2% on the year and by by 3% on the month in October.
VLSFO sales in Panama lost 7.5% on the year to 297,161 mt in October HSFO gained 12.9% to 94,185 mt, MGO declined by 51.9% to 4,624 mt and LSMGO sank by 4.9% to 37,478 mt.
HSFO's share of the total was 21.7%, up from 18.4% a year earlier.
The number of ships coming to Panama to bunker declined by 3.1% on the year to 636 in October, taking the average stem size down by 1.5% to about 682 mt. Over the previous 12 months the average stem size was about 678 mt
The VLSFO price at Balboa averaged $646.50/mt in October, according to Ship & Bunker data, down by 2.2% from September's level and by 9.8% from October 2022
Singapore's average VLSFO price in October was $668.50/mt, up by 0.8% from September's level but down by 7.9% from the level seen a year earlier. Ship & Bunker's G20-VLSFO Index of average prices across 20 leading bunkering ports lost 0.3% on the month and 10.4% on the year to $672.50/mt in October.