Panama HSFO Sales Plunge to Three-Year Low in September | Mariner News

Panama’s total bunker sales fell to a three-month low in September, driven by a sharp 37.8% month-on-month plunge in High Sulphur Fuel Oil (HSFO) sales, which reached their lowest level since July 2023. Preliminary data from the Panama Maritime Authority (AMP) indicates conventional marine fuel volumes of 385,368 metric tonnes (mt) for the month, a 6.5% drop from August.

HSFO sales specifically plummeted to 75,470 mt, marking an 11.1% decrease year-on-year. This significant downturn occurred despite a notable increase in Very Low Sulphur Fuel Oil (VLSFO) sales, which rose 7.6% month-on-month to 265,784 mt.

The decline in overall volumes was also accompanied by a reduction in bunker calls, which fell to 543 in September from 569 in August. Despite the monthly dip, Panama’s year-to-date bunker sales reached 3.93 million mt, maintaining a slight 0.4% increase compared to the same period last year.

The sharp contraction in Panama’s HSFO market suggests a potential shift in bunkering patterns for scrubber-equipped vessels or a temporary reduction in such tonnage calling at this critical global hub. This contrasts with reports from other major bunkering ports, such as Singapore, which saw its HSFO sales increase by 6.4% year-on-year in September. This divergence could point to changing competitive dynamics among key bunkering locations or a strategic recalibration of vessel routing for those capable of consuming HSFO.