{"id":27112,"date":"2019-09-23T14:56:15","date_gmt":"2019-09-23T19:56:15","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=27112"},"modified":"2019-09-23T14:56:15","modified_gmt":"2019-09-23T19:56:15","slug":"bunkers-supplier-monjasa-awaits-0-5s-demand-panama-americas-chief","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/bunkers-supplier-monjasa-awaits-0-5s-demand-panama-americas-chief\/","title":{"rendered":"Bunkers supplier Monjasa awaits 0.5%S demand in Panama: Americas chief"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Bunker supplier Monjasa is preparing for a rapid transition to introduce IMO 2020-compliant marine fuel 0.5%S in Panama, while staying flexible to prevent early advances before IFO 380 demand falls off there, according to the company\u2019s top official in the Americas.<\/p>\n

\u201cWe haven\u2019t seen a real pickup yet for 0.5%S in Panama,\u201d Rasmus Jacobsen, Monjasa\u2019s Americas managing director, told S&P Global Platts in a recent interview. \u201cWe believe [demand is] going to be building up during next month, and then probably take speed over the next months after that \u2014 November and December \u2014 but currently we\u2019re not seeing a big demand.\u201d<\/p>\n

While sources have noted available supply in Panama, marine fuel 0.5%S market activity has so far been slow to develop as participants try to avoid premature adoption of the sulfur regulations.<\/p>\n

\u201cWe\u2019re trying to be as flexible as possible to enable this transition at the right point in time, because there is an issue \u2013 if everyone starts having 0.5%S product available before it\u2019s actually going to be lifted, then that would necessarily mean that there is not going to be enough high sulfur in the market, Jacobsen said. \u201cThere is not enough market and tank storage to have all that available for all three grades,\u201d he added, emphasizing Denmark-based Monjasa\u2019s desire to adapt swiftly while providing steady supply flow in Panama.<\/p>\n

\u201cI think that the shipowners in general have it somewhat clear when they want to change, but I don\u2019t necessarily think that logistics [are] agreeing with the shipowners,\u201d Jacobsen said. \u201cI think that there are some that want to secure availability of 0.5%S, and they\u2019re doing that by letting go of 3.5, and they might be OK having that 0.5%S in stock for a month. However, the shipping industry needs that 3.5 for that month,\u201d he added.<\/p>\n

As market participants await the January 1, 2020, hard deadline for compliance with new International Maritime Organization regulations imposing a 0.5% sulfur limit on marine fuel globally, developments are constantly changing the bunker market landscape. Active players must continuously evaluate outlooks prior to the deadline.<\/p>\n

Monjasa offers physical bunker fuel supply in Balboa and Cristobal along the Panama Canal, with operations managed out of its local office in Panama City. Monjasa also maintains marine fuel trading activity in North American ports out of Stamford, Connecticut.<\/p>\n

\u201cGlobally, we\u2019re more focused on getting ready for the transition and making sure that everything is in place in our existing operations,\u201d Jacobsen said regarding the potential for Monjasa to introduce physical supply operations in North America, maintaining that Monjasa will only continue such operations in Panama.<\/p>\n

Platts assessed marine fuel 0.5%S at $595\/mt on an ex-wharf basis in Balboa Thursday.<\/p>\n\n

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    Bunker supplier Monjasa is preparing for a rapid transition to introduce IMO 2020-compliant marine fuel 0.5%S in Panama,<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,255,246,244,44],"class_list":["post-27112","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-panama-real-estate-bocas-del-toro","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nBunkers supplier Monjasa awaits 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