As a critical artery for the Panama Canal, the Pacific and Atlantic bunkering sectors witnessed a significant 29% surge in vessel traffic throughout 2025. The maritime hub handled 5.31 million tonnes of bunker fuel, cementing Panama’s position as a dominant energy node for trans-oceanic trade.
Panama | January 14, 2026 – As Panama continues to strengthen its position as a pivotal hub for global maritime trade, the bunkering industry in the region has undergone significant shifts throughout 2025. The Panama bunkering sector serviced a total of 7,471 vessels, delivering 5,315,202 metric tons of bunker fuel.
While total volume saw a modest 0.6% year-on-year growth, the sector experienced a massive 29.2% increase in vessel attendance, indicating a shift toward more frequent but smaller bunkering operations. Notably, 2025 marked the official emergence of Biofuels in the Atlantic region, signaling the start of Panama’s transition toward “Green Corridors.”
Panama Bunker Sales 2025 – Monthly Volumes of Marine Fuel Grade
| Month | Vessels | VLSFO (t) | RMG 380 (t) | MGO (t) | LSMGO (t) | Biofuel (t) |
| January | 642 | 307,024 | 117,863 | 11,114 | 41,899 | 0 |
| February | 599 | 264,100 | 107,953 | 7,562 | 35,546 | 900 |
| March | 666 | 306,752 | 136,572 | 7,992 | 47,498 | 0 |
| April | 627 | 273,571 | 133,332 | 3,941 | 48,282 | 0 |
| May | 632 | 276,907 | 125,872 | 3,525 | 47,093 | 0 |
| June | 607 | 267,076 | 117,767 | 5,978 | 40,326 | 0 |
| July | 575 | 259,478 | 86,892 | 4,283 | 36,499 | 0 |
| August | 598 | 281,158 | 88,237 | 3,524 | 46,137 | 0 |
| September | 592 | 245,877 | 84,913 | 4,874 | 40,369 | 0 |
| October | 643 | 327,581 | 83,386 | 3,092 | 46,060 | 1,600 |
| November | 629 | 301,834 | 93,003 | 2,847 | 45,954 | 2,221 |
| December | 656 | 295,269 | 131,736 | 5,749 | 46,184 | 0 |
| Total | 7,471 | 3,406,627 | 1,317,526 | 64,481 | 521,847 | 4,721 |
Note: Includes combined Pacific Region and Atlantic Region volumes.
Key Highlights from Panama’s Bunkering Sector
Bunker Sales for Pacific Region (2025):
- Attended Vessels: 5,719
- VLSFO Volume: 2,714,664 metric tons
- RMG 380 Volume: 1,211,115 metric tons
- LSMGO Volume: 411,001 metric tons
- MGO Volume: 27,382 metric tons
Bunker Sales for Atlantic Region (2025):
- Attended Vessels: 1,752
- VLSFO Volume: 691,963 metric tons
- RMG 380 Volume: 106,411 metric tons
- LSMGO Volume: 110,846 metric tons
- MGO Volume: 37,099 metric tons
- Biofuel Volume: 4,721 metric tons
Total 2025 Performance: This brings Panama’s total bunker sales in 2025 to 5,315,202 tonnes across both regions, serviced via 7,471 vessel calls.
Year-in-Review: Key Insights
- Surge in Vessel Calls: Panama saw a 29% increase in ship attendance compared to 2024. However, the total fuel volume only rose by 0.6%, suggesting that while more ships are stopping in Panama, the average “stem size” (volume per bunkering event) has decreased.
- The Green Shift (Biofuels): For the first time, Biofuel sales were recorded in the Atlantic region. The heavy concentration in Q4 (October and November) suggests the commencement of new environmental compliance contracts or the early stages of “Green Corridor” initiatives.
- LSMGO Momentum: Low Sulfur Marine Gasoil saw a massive spike in demand, totaling 521,847 tonnes, as vessels continue to prioritize cleaner-burning fuels for ECA compliance and environmental targets.
- RMG 380 Cooling: After a massive 42% surge in 2024, High Sulfur Fuel (RMG 380) saw a moderate 6.8% decline, indicating a possible stabilization in the scrubber-fitted vessel market.
Panama Bunker Sales Comparison: 2024 vs. 2025
| Fuel Grade | 2024 (tonnes) | 2025 (tonnes) | Y-o-Y Change |
| VLSFO | 3,367,757 | 3,406,627 | +1.15% |
| RMG 380 | 1,414,114 | 1,317,526 | -6.8% |
| LSMGO | 385,164 | 521,847 | +35.5% |
| MGO | 116,465 | 64,481 | -44.6% |
| Biofuel | 0 | 4,721 | NEW |
| Total Volume | 5,283,500 | 5,315,202 | +0.6% |
| Total Vessels | 5,783 | 7,471 | +29.2% |
Analysis and Outlook
The 2024-2025 transition reveals a market that is broadening its service base. While VLSFO remains the king of the Panamanian market, the 35.5% jump in LSMGO and the introduction of Biofuels reflect a clear industry-wide push toward decarbonization. The sharp drop in traditional MGO suggests that users are migrating toward the cleaner LSMGO alternative.
As we look toward 2026, the industry will be watching to see if the Biofuel trend expands into the Pacific region and if the high vessel attendance translates into a future volume rebound.
About the Panama Canal
The Panama Canal, an engineering marvel spanning approximately 80 kilometers between the Atlantic and Pacific Oceans, is a vital link between North and South America. Built in one of the continent’s narrowest stretches, the Canal plays a key role in facilitating global maritime trade through its sophisticated system of locks.
The Canal’s locks, Gatun, Pedro Miguel, and Miraflores, function as water lifts, raising ships from sea level to the level of Gatun Lake, which sits 26 meters above sea level. The lock chambers measure 33.53 meters wide by 304.8 meters long, accommodating vessels up to 32.3 meters in width, with a draft of up to 12 meters in tropical fresh water, and a length of up to 294.1 meters.
Water for the locks is drawn from Gatun Lake, using gravity to move ships between different elevations. The Canal’s narrowest section, the Culebra Cut, stretches 13.7 kilometers from the Pedro Miguel Locks to Gatun Lake, carved through rock and limestone.
Annually, the Panama Canal facilitates the passage of between 13,000 and 14,000 ships, connecting over 180 maritime routes and serving more than 1,920 ports in 170 countries. The Canal operates 24/7 year-round, supported by a dedicated workforce of approximately 9,000 employees, ensuring seamless transit services for global maritime traffic.
Source: Autoridad Marítima de Panamá