Marine fuel supplier Monjasa is set to become the first provider of biofuel for bunkering in Panama.
The company will offer B30, a blend of 30% used cooking oil methyl ester (Ucome) and 70% very low-sulphur fuel oil (VLSFO). This biofuel will be available for delivery via barge at Cristobal on Panama’s Caribbean coast. Monjasa can also deliver B30 at Balboa, on the Pacific side of the canal, though this may involve price adjustments due to logistical factors, the company explained to Argus.
Monjasa has the capacity to supply up to 7,000 metric tonnes (t) of biofuel per month but aims to expand its capacity and provide more biofuel grades and blend ratios in the future. According to Panama Canal Authority data, the demand for VLSFO on the Caribbean side of Panama averaged 57,912t per month in 2024.
The company already supplies biofuels for bunkering in Colombia and Peru. In Colombia, demand comes from container ship companies, RoRo vessels, and, more recently, cruise ships. In Peru, biofuel demand is driven by dry bulk vessels used by mining companies.
In northwest Europe, B30 was priced at $813 per tonne in early January, a 54% premium over the $528 per tonne price of VLSFO.
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