The Bunker Fuel Business in Panama

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

Monday, May 20, 2013

"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. This terminal has the capacity to store 2.1 million barrels of HFO and MGO ", reported Capital.com.pa.

"Another DECAL fuel terminal, located at the entrance of the Canal in the Pacific Ocean, has recently completed an expansion to increase its storage capacity."

Also being built on the Atlantic is the fuel terminal called Telfers Tanks, joining similar ones such as Oil Tanking and Bahia Las Minas, among others.

Many of these investments were betting on a future business when the expanded Canal is operating. During the first two months of 2013, total fuel sales reached 602,701 metric tons, of which 580,658 tonnes are fuel oil and 22,043 tons were marine diesel.

In this same period, 591 vessels were serviced in the Pacific, of the 784 ships that went through in the port system, according to official figures from the Panama Maritime Authority (AMP), data that has been challenged by industry who do not see it as conforming to reality. Also, the number of ships served in the first quarter of 2013 grew by 10.4% compared to the same period of 2012.



More on this topic

Fuel Storage in Panama

March 2016

Total fuel storage capacity in the country is 29.8 million barrels, with Petroterminal de Panama´s tank representing 50% of the figure.

Panama has a storage capacity of 29.8 million barrels of oil, according to the latest report from the country's National Energy Secretariat.

Panama: $52 million for New Fuel-Free Zone

April 2014

Telfer Tanks has been granted a concession for the operation and management of a storage terminal and pumping stations in the province of Colon.

From a statement issued by the presidency of Colombia:

"The Cabinet Council authorized the Minister of the Presidency to conclude the Contract for Administration and Operation of a fuel free zone with the company TELFER TANKS, INC., whose investment exceeds 52 million dollars.

Panama to Build Free Zone for Fuels on Isla de Melones

February 2012

The company Melons Oil Terminal Inc will operate and manage a Fuel Free Zone capable of storing 2 million barrels of oil.

A press release from the Presidency of Panama reads:

The Cabinet Council has authorized the Minister of the Presidency on behalf of the State to finalise a contract with the company Melons Oil Terminal Inc., for the operation and administration of a Fuel Free Zone capable of storing 2 million barrels of oil .

Fuel Terminal in Melones, Panama

November 2011

The initial $43 million 12 storage tank project on the island in the Pacific has increased to 16 tanks with an investment of almost $60 million.

The project, which is 60% complete, is being developed by Burkell Holding Inc. and includes a loading pier for shipping fuel.

 close (x)

Receive more news about Energy

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jan 20)
Brent Crude Oil
86.840
Coffee "C"
244.00
Gold
1,842
Silver
24.18