More vessels arriving to bunker contributed to push Panama’s total bunker sales up by 23% in October, according to Engine Technologies.
Total bunker sales in October reached their highest level since August 2019. The number of ships bunkering in Panama’s ports rose by a massive 50 on the month, to 651 in October. This was the highest figure since March last year.
The average stem size was roughly 806 mt in October, up by 94 mt from 712 mt in September, according to preliminary figures from the Panama Maritime Authority. In October, HSFO sales increased by 34% and were at their highest since IMO's 0.5% sulphur cap came into force in 2020.
Four barges were taken offline in Panama, bringing the total count to 31 barges in October. Bunker-only calls rose by 2%, or 15 calls, compared to October last year. HSFO sales rose by a massive 67% on a year-on-year basis. VLSFO continued to be the most sought-after product, accounting for 61% of the total bunker sales in Panama in the first 10 months of this year.
HSFO sales represented 29% of the total and combined MGO sales at 10%. Last month, demand for VLSFO and LSMGO was strong in Panama’s ports of Balboa and Cristobal.
Product availability was also normal, and most suppliers were able to supply both fuel grades with 3-5 days lead time.