Bunker fuel sales in Panama in August 2023 reached approximately 411,000 tons, showing a decrease of 17,000 tons compared to July. This decrease is equivalent to 4 percent and is primarily due to a drop in sales of the two main fuel types, namely VLSFO and LSMGO. VLSFO sales have decreased to 247,000 tons, reflecting a decline of 31,000 tons and an 11 percent drop compared to the previous month. This amount is the lowest level of VLSFO sales since September of last year.
Changes in Bunker Fuel Sales
LSMGO sales have also fallen to 36,000 tons, indicating a decrease of 600 tons. In contrast, HSFO sales have increased by 15,000 tons to 121,000 tons, which is the highest sales volume of this fuel type since December of last year. Additionally, MGO sales have decreased by 0.5%, down 600 tons to 7,000 tons. Overall, the average daily bunker fuel sales in Panama in August reached approximately 13,270 tons per day, down from 13,800 tons per day in July.
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Number of Vessels and Waiting Times in the Panama Canal
In August, 566 vessels visited Panama's ports for fuel, a decrease from 629 vessels in July. The number of active barges has also decreased from 32 to 28. However, the average fuel loading size this month has increased to approximately 727 tons, compared to 680 tons the previous month. VLSFO remains the most popular bunker fuel in Panama, accounting for about 60 percent of total sales in August. HSFO accounts for about 30 percent and MGO about 10 percent of total sales.
Compared to August of last year, total sales have decreased by about 2 percent. VLSFO sales have faced a 12 percent decline, and LSMGO has seen a 22 percent decrease, while HSFO sales have increased by about 38 percent and MGO sales have more than doubled with a 0.5% increase.
Currently, traffic in the Panama Canal is facing a waiting time of 3 to 4 days. Meanwhile, access to VLSFO, LSMGO, and HSFO fuels at the Balboa and Cristobal ports has been consistently maintained, and these fuels are generally deliverable within 3 to 4 days from most suppliers.
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