Panama’s bunker fuel sales reached a three-month high in July, driven by a rise in vessel calls, according to preliminary data released by the Panama Maritime Authority (AMP) and reported by Ship & Bunker.
The country sold 427,985 mt of conventional marine fuel during the month, marking a 10.6% increase year-on-year and an 11.1% rise compared to June’s volumes, Ship & Bunker reports.
Breakdown by Fuel Type
Both VLSFO and HSFO sales grew in July. VLSFO sales climbed to 277,588 mt, the highest level since April 2026, according to the data cited by Ship & Bunker. This represented a 7% year-on-year increase and a 12.1% rise from June.
HSFO sales totalled 105,996 mt, up 22% from the same period last year and 11.1% higher than June, marking the strongest HSFO sales figures since March 2026. HSFO’s share of total bunker sales rose to 24.8%, compared with 22.4% a year earlier, Ship & Bunker notes.
Meanwhile, LSMGO sales dipped slightly, down 0.1% year-on-year to 36,451 mt, while MGO sales surged 85.6% to 7,950 mt. No bio-blended bunker sales were recorded during the month, according to the report.
Vessel Calls and Supply Infrastructure
Bunker calls in Panama rose to 629 in July, up from 575 in the same month last year and 545 in June, Ship & Bunker reports. The number of barges supplying bunker fuel also increased to 32, from 30 in both May and June. However, the average stem size fell to around 680 mt, down from 707 mt in June.
Pricing and Canal Draft Restrictions
According to Ship & Bunker pricing data, the average VLSFO price in Balboa was $734.5/mt in July, down from $787.5/mt in June but still well above the $535.5/mt recorded a year earlier. Ship & Bunker’s G20-VLSFO Index, which tracks average prices across 20 major bunkering ports, stood at $760/mt in July, compared with $782/mt in June and $553/mt in July 2025.
The report also notes that the Panama Canal Authority is preparing further draft restrictions for vessels transiting the Neopanamax locks later this month and in September. Ship & Bunker states that these changes could affect vessel transits and bunker demand in the months ahead.
Does This Matter to You?
For those monitoring bunker demand trends and Panama Canal transit conditions, this data offers a clear signal of current activity levels at one of the world’s key bunkering hubs. The reported increase in bunker calls and fuel sales reflects short-term demand strength, while the upcoming draft restrictions flagged by Ship & Bunker could influence vessel routing decisions and fuel purchasing patterns in the region going forward.
The shift in HSFO’s share of total sales, alongside pricing movements noted in the report, may also be relevant to those tracking fuel-grade preferences and cost trends at Panama’s bunkering ports.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker (data credit: AMP)
