Panama’s conventional marine fuel sales dropped to their lowest level in nine months during June, according to preliminary data released by the Panama Maritime Authority (AMP) and reported by Ship & Bunker.
The country sold approximately 385,100 mt of conventional bunker fuel in June, a decline of 10.7% compared to the same month last year and 5% lower than May figures, Ship & Bunker reports. This marks the third consecutive month of declining sales in the region.
Breakdown by Fuel Type
According to Ship & Bunker, VLSFO sales totalled 247,652 mt in June, representing the lowest monthly volume since September 2025. This figure was down 7.3% year on year and 2.1% from the previous month.
HSFO sales fared worse, falling 19% year on year and 7.3% month on month to reach 95,379 mt, Ship & Bunker’s report states.
LSMGO sales also declined, dropping 10% year on year to 36,308 mt, while MGO sales slipped 3.6% to 5,761 mt, according to the data cited by Ship & Bunker. Notably, no bio-blended bunker sales were recorded during the month.
Fewer Calls, Steady Infrastructure
Bunker calls in Panama fell for a third straight month, with 545 calls recorded in June compared to 607 in June 2025 and 562 in May 2026, Ship & Bunker reports. Despite the drop in activity, the number of barges supplying bunker fuels remained steady at 30, unchanged from May. The average stem size stood at roughly 707 mt, consistent with the trailing 12-month average.
Pricing Trends
Ship & Bunker’s own pricing data shows the average VLSFO price in Balboa fell to $787.5/mt in June, down from $942/mt in May 2026, though still substantially higher than the $531/mt recorded a year earlier. The publication’s G20-VLSFO Index, which tracks average prices across 20 major bunkering ports, registered $782/mt in June, compared to $900/mt in May and $554/mt in June 2025.
Does This Matter to You?
The sustained decline in Panama’s bunker sales and vessel calls may signal broader shifts in shipping activity through this key transit route, which links major East-West trade lanes via the Panama Canal. Falling VLSFO and HSFO volumes alongside easing prices from May’s elevated levels could influence fuel procurement planning for vessels transiting the region.
The data on barge supply, stem sizes, and call volumes may also be useful for tracking operational capacity and demand trends in one of the world’s busiest bunkering hubs. The source material does not provide further detail on the causes behind the decline, and any broader market implications beyond what is reported here remain unclear.
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
