Growth in Bunkering Business in Panama

In the first half of the year 2.4 million metric tons of marine fuel were shipped into the country's port terminals, 24% more than in the same period in 2016.

Wednesday, August 9, 2017

The start of operations of the expanded Canal is the main reason behind the increase of almost 24% in the sale of marine fuel to boats in Panamanian ports, according to representatives from the sector.  Figures from the Panama Maritime Authority report that between January and June, 2.4 million metric tons of marine fuel were traded, 461 thousand tons more than in the first half of last year. 

Prensa.com reports that "...The largest quantity of the product shipped corresponds to fuel oil, with 2.2 million MT, while the remaining 183 thousand corresponds to marine diesel."

"... In this first half of the year, statistics show a slowdown in the number of ships served compared to the volume of fuel dispatched. From 2,641 ships served in the first half of 2016, in the same period this year the figure grew to 2,991 ships, 350 more or a 13% increase."


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Panama: Bunker Sales Up 38%

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In the first nine months of the year, 2.8 million barrels of marine fuel were sold, 38% more than was sold in the same period in 2016.

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Although the market is not growing significantly, there is still investment being made in new terminals for the storage and supply of the fuel.

"Recently the fuel terminal Melones, located in the Pacific and rated by experts as "state of the art" went into operation. The investment in this project has been estimated at between $60 million and $90 million.

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