Panama Bunker Sale Slumps to 26 Month Low

85

The Panama bunker sales volumes in October have reached a 26 month low for all products by 321,050 metric tonnes.

Decrease in sales

According to the Panama Maritime Authority, the 18% drop is estimated to be on a 26 month low since August 2016. The low has been attributed to the recent bunker fiasco were the sale of fuel oil plummeted to 15% in September while the distillates have managed to increase by 11%. Furthermore, many vessels are choosing to lift their bunkers in Panama.

October report

The fuel oil sales dropped by 18.4% to 291,544 mt in Balboa on the country’s Pacific coast and 83,896 mt on the Atlantic coast whereas the distillate sales fell by 12.8% to 29,506 mt.

Did you subscribe for our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Ship & Bunker

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.