Panama: 'Bunkering' industry to invest $200 million

Income from ‘bunkering’ for 2008 is calculated at $2 billion, almost the same as for the Canal.

Tuesday, August 19, 2008

Three bunker terminals, which are used to move the fuel used by ships, are programed to invest some $200 million during the next few years.

More on this topic

Panama: Slight Improvement in Bunkering Business

April 2017

In 2016 28.8 million barrels of fuel were sold to ships, which is 3.1 million barrels more than in the previous year.

Figures from the Panama Maritime Authority indicate that most of the bunker fuel was marketed in the Pacific, with 23.8 million barrels, while the remaining 4.9 million barrels were shipped across the Atlantic.

Panama Sells 7% More Bunker Fuel

October 2016

Between January and August 2016, 2.5 million metric tons of marine fuel were sold, 7% more than in the same period in 2015.

The biggest sales growth was recorded in January, with a rise of 17%. Although the increase between 2015 and 2016 is lower than that recorded between 2014 and 2015,   "...

Panama: Sales of Marine Fuel Grow

August 2011

Investments to increase bunker fuel storage capacity are yielding good results, with sales growing by 18% in the first half of 2011.

In the first six month of 2010, a total of 2,233 ships were attended to, transporting 1,446 000 metric tonnes of oil and marine diesel.

In the same period in 2011 the total number of vessels was 2,458 and they transported 1,700,000 metric tons.

Panama: Free Trade Zone for Fuel by Year End

August 2010

The free trade zone in Colón, located by the port of Manzanillo, will be operated by the European company Oiltanking.

"The Panamanian company Colon Oil and Services, S.A. (Coassa) installed four tanks, pipelines and pumping infrastructure on the site with an investment worth $14 million. The site will be managed by a European company with which negotiations are underway," reports Prensa.com.

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