Marine fuel supplier Monjasa will be the first biofuel for bunkering supplier in Panama.
Monjasa's B30 is a blend of 30pc used cooking oil methyl ester (Ucome) with 70pc very low-sulphur fuel oil (VLSFO). It is available for delivery on barge in Cristobal, on Panama's Caribbean coast. Monjasa can also deliver B30 in Balboa, on the Pacific side of the canal "although this could lead to price adjustments due to logistical changes", Monjasa told Argus.
The company can supply up to 7,000 metric tonnes (t) per month, but it aims to increase this capacity as well as offer additional grades and blend ratios. VLSFO demand on Panama's Caribbean side averaged at 57,912t/month in 2024 according to Panama Canal Authority data.
Monjasa also sells biofuels for bunkering in Colombia and Peru. In Colombia, Monjasa has seen biofuel demand from container ship companies, RoRo vessels and most recently from cruise ships. In Peru, demand has been driven by dry bulk vessels used by several mining companies.
In northwest Europe, B30 was assessed at $813/t average in the first half of January, 54pc higher compared than VLSFO which was at $528/t.