Panama: Sales of Marine Fuel Grow

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

Tuesday, August 30, 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.

"The sale of marine fuel has increased, as predicted by market participants, as previously most of the boats passing by or through the Panama Canal bought fuel in other centers.

Growth in sales of marine fuel is keeping pace with the new investments to expand capacity and the prospect of increased demand after 2014, when the canal expansion will be completed", reported

More on this topic

El Salvador: More Texaco Investments

September 2016

So far this year Chevron has invested $8 million in the opening of three stations and plans to start expanding the storage terminal in Acajutla.

The project to expand the storage terminal operating in Acajutla consists in increasing capacity "...

Panama: $120 Million for Fuels Free Zone

March 2016

Construction has been announced of 9 additional storage tanks and a pier with two berths to supply 2.5 million barrels.

From a statement issued by the National Secretariat of Energy in Panama:

The sale of marine fuel or bunkering, an activity that generates about $900 million a year to the country's economy, will grow with the expanding operations of the Free Zone for Fuels, located in Bahía Las Minas, Colon Province.

Panama: Growth in Bunkering in 2015

February 2016

In 2015 3.7 million metric tons of marine fuel were sold in Panama, 16.2% more than in 2014.

According to preliminary figures from the Maritime Authority of Panama, of the 3.7 million metric tons of marine fuel sold in 2015, 3.4 million were Fuel Oil and 252,521 Marine Diesel Oil. The number of ships catered for also increased, going from 4,699 in 2014 to 5,699 in 2015, reflecting an increase of 21.2%.

Panama: Growing Business of Bunker Fuel

August 2015

The rise in prices and fuel supply problems in markets like Colombia explain the 10% increase in sales of bunker fuel in the first half of the year.

After experiencing a slight decrease in the rate of business growth, companies engaged in the storage and sale of marine or bunker fuel say they feel there is an improvement in the activity.

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