The Panama Maritime Authority (PMA) said the move aims to enhance licensing transparency and foster competition in a market strengthened by Panama’s strategic location.

IMAGE: A cruise liner approaching the first of the Panama Canal Locks, Gatun Lock, early in the morning. Getty Images

The PMA has withdrawn its 2019 resolution that restricted the marketing and sale of fuels, lubricants, and petroleum products via floating equipment such as barges.

The authority has now reopened the process for issuing new operating licenses for fuel transport and supply services using floating assets, effectively ending a five-year suspension on such permits.

"The new resolution allows companies interested in offering fuel supply services to submit new license applications or vessel inclusion requests...in line with established procedures and under strict compliance with current regulations," the PMA said.

The Panama Canal serves as a vital passage for hundreds of vessels in global trade, driving consistent demand for bunkering services across Panamanian waters.

By Gautamee Hazarika

Please get in touch with comments or additional info to news@engine.online