Panama June bunker sales drop to nine-month low
Panama's total sales reached 382,955 mt in June, according to preliminary data from the Panama Maritime Authority (AMP). The total was down by 11.8% from a year earlier, by 5.8% from May's level and the lowest monthly total since September 2022, according to Ship & Bunker. Singapore, the world's largest marine fuels hub, saw sales drop by 13% month-on-month in June.
VLSFO sales in Panama gained 6.3% on the year to 274,687 mt in June. HSFO sank by 46.5% to 66,784 mt, MGO advanced by 13.3% to 10,434 mt and LSMGO declined by 25.5% to 31,050 mt.
HSFO's share of the total was 17.4%, down from 28.8% a year earlier.
The number of ships coming to Panama to bunker declined by 12.4% on the year to 558 in June, the least since September 2022, taking the average stem size up by 0.7% to about 686 mt. Over the previous 12 months the average stem size was about 682 mt.
The VLSFO price at Balboa averaged $586.50/mt in June, according to Ship & Bunker data, up by 0.3% from May's level but down by $42.1% from June 2022.
Singapore's average VLSFO price in June was was $590/mt, up by 2.8% from May's level but down by 46.7% from the level seen a year earlier. Ship & Bunker's G20-VL SFO Index of average prices across 20 leading bunkering ports gained 1.7% on the month and lost 45.2% on the year to $595.50/mt in June.
