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,"...
On October 25 and 26 companies in the maritime industry will be gathering together in Panama City to discuss the impact of the enlargement of the Canal on the bunkering activity.
From a statement issued by the Maritime Chamber of Panama:
On 25 and 26 October 2016, the third edition of Panama Bunkering Forum will be held with the theme: EXPANSION AND NEOPANAMAX, New Challenges for Industry, in the Panama Wyndham Hotel, an event organized by the Maritime Chamber of Panama.The conference will last for two full days, and will include discussions of topics of interest and of direct impact to this auxiliary maritime industry which represents a significant contribution to the maritime conglomerate of Panama.This event will feature the presence and support of the Maritime Authority of Panama, the Panama Canal Authority and the Logistics Cabinet.
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.
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%.
On 6 and 7 October industry representatives worldwide will gather together in Panama City to discuss issues such as the impact of the expanded canal on bunker operations.
Representatives from the Maritime Chamber of Panama, the event organizer, said to Prensa.com that "... The aim this year is to unite the bunkering sector agencies, shipping companies and their service providers, and present the problems of the sector to the various authorities in the country ".
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. In previous years, vessels transiting the Canal were buying fuel in Colombia and other Caribbean countries.
The country is to invest $300 million in installing new storage tanks for bunker and other oil derivatives.
The new tanks will enable Panama to double its storage capacity from 5 million barrels now to 10 million in 2014.
Wilfredo Jordán's article for Prensa.com comments that, "according to studies, for every four ships that pass through the canal, only one refuels at Panamanian facilities".
An electricity project by the ICE in Costa Rica will cause 20 tankers of fuel to be transported daily between Limon and Puntarenas by road.
According to nacion.com, "The fuel will be used to supply the Garabito Electrical Plant which his being built by the ICE at Montes de Oro next to the Inter-American Highway