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Panama bunker sales dip on lower traffic – Argus

Source: Gibson Shipbrokers
Source: Gibson Shipbrokers

Stefka Wechsler, Argus Media

EnergiesNet.com 10 06 2023

Panama bunker sales dropped by 11pc in August from a year earlier, reflecting cuts in vessel transits because of declines in water flows from lakes that feed the canal.

Bunker sales dropped to 420,128t in August from 472,448t a year earlier, according to data from the Panama Canal Authority.

The Panama Canal Authority reduced the number of daily vessel transits through the canal on 30 July to 32 from a normal average of 38 as a prolonged drought reduced flows from the Gatun and Alajuela lakes.

Panama’s bunker sales in August declined across the different types of marine fuels: very low-sulphur fuel oil (VLSFO) and high-sulphur fuel oil (HSFO) declined by 9pc each to 292,280t and 83,199t, respectively. Marine gasoil (MGO) demand was down by 26pc to 44,649t.

VLSFO in Panama was priced the cheapest in Latin America in August, even compared to the typically cheaper port of Santos, Brazil, Argus data showed. By comparison, Panama MGO ranked the fourth cheapest in Latin America in August, after Rio de Janeiro and Santos, Brazil; and Cartagena, Colombia.

argusmedias.com 10 03 2023

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