MELONES OIL TERMINAL

Report
Pacific Anchorage
Entrance to the Canal
Panama Bunker
Market
Andres Galavis
Melones Oil Terminal – Panama
Miami – October 30th, 2012
Index
1.Market
2.Panama bunker sales volumen
3.Bunker suppliers
4.Storage
5.Delivery
6.Products and quality (eca areas)
7.Canal expansion, impact in bunkers demand
8.Conclusions
1. Market
1. Market
Total Transits, 2011: 14,684
Total Transits, 2010: 14,230
Passenger
Others
RO-RO
General Cargo
N° transits 2011
N° transits 2010
Tankers
Reefer
50%
Dry bulk
Container
0
1,000
High draft vessels
2,000
3,000
4,000
1. Market
Transits vs transshipments 2011,
MTEUs
79%
10.0
8.0
8.4
6.6
6.0
4.0
2.0
0.0
Transit
TEU´s Transshipped
Transshipments calls in the Caribean, aprox 1.500
1. Market
Transshipment ports in the Caribean
2. Panana Bunker sales volume
Panama bunker market
4,000,000
3,500,000
3,000,000
mt
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
mt
2008
3,291,129
2009
2,722,308
2010
3,067,530
2011
3,395,919
2. Panana Bunker sales volume
Market Share per Ports, %
100%
80%
28%
29%
30%
60%
40%
Atlantic
72%
71%
20%
70%
0%
2009
2010
2011
Pacific
2. Panana Bunker sales volume


Either side option, choice factors:
Optimization of cargo capacity of the
vessels and trim of the vessel

Speed of bunkering operations

Better use of waiting time
3. Competitors
3. Competitors
Panama bk delivered prices vs Atlantic Ports + LA,
usd/mt
775.00
755.00
735.00
715.00
695.00
675.00
655.00
635.00
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2011 2011 2011 2011 2011 2011 2011 2011 2011 2012 2012 2012 2012 2012
Houston 380 CST Dlvd
Los Angeles 380 CST Dlvd
NY 380 CST Dlvd
Cartagena 380 Dlvd
Panama 380 Dlvd
4. Bunker suppliers
Rio Energy
5. Storage
5. Storage, Pacific side
Rodman
Balboa
Decal
Rodman
AOT
Melones
Total
Bbls
2.240.000
786.000
1.000.000
2.120.000
6.146.000
5. Storage, Pacific side
EXISTING TANKS
1,100,750 bbl / 175,000 c.m.
3x (220,150 bbl / 35,000 c.m.)
2x (110,075 bbl / 17,500 c.m.)
7x (31,450 bbl / 5,000 c.m.)
NEW TANKS, Available oct 2012
1,141,635 bbl / 181,500 c.m.
1x (220,150 bbl / 35,000 c.m.)
4x (110,075 bbl / 17,500 c.m.)
9x (53,465 bbl / 8,500 c.m.)
5. Storage, Pacific side
2,120,000 bbl / 337,000 c.m.
6x (220,000 bbl / 35,000 c.m.)
6x (100,000 bbl / 16,000 c.m.)
4x (50,000 bbl / 8,000 c.m.)
1st phase in service Nov. 2012, aprox 890,000 bbls
5. Storage, Atlantic side
Cristóbal
Oiltanking
Petroport
Bbls
300.000
505.000
AOT
808.000
APSA
924.000
Texaco
2.950.000
Total
5.487.000
5. Storage, Atlantic side
EXISTING TKS
300,000 bbl
2x 100,000 bbl
2x 50,000
NEW TKS
450,000 bbl
2x 150,000 bbl
1x 100,000 bbl
1x 50,000 bbl
5. Storage, Atlantic side
5. Storage, Atlantic side
Construction has begun and open for
operations fourth Q 2013
1.2 million barrels of storage
5. Storage, Atlantic side
Bahia las Minas
Phase 1 (operational in Q4 2012)
3 x 31,700 m³
3 x 40,000 m³
Phase 2 (operational in Q1 2013)
4 x 10,000 m³
6 x 20,000 m³
7 x 40,000 m³
Phase 3 & 4 (operational in Q4 2015 & Q2
2020)
13 x 10,000 m³
23 x 20,000 m³
13 x 40,000 m³
6. Delivery
In Panama 98% is barge delivered
6. Delivery
Fleet of barges
30
25
20
15
10
5
0
Barges
Single Hull
8
Double Hull
18
total
26
-no single hull barges as of June 1st, 2012
6. Delivery
DWT
150,000
DWT
100,000
50,000
0
Single Hull
DWT
Single Hull
33,820
Double Hull
Double Hull
98,348
total
total
132,168
6. Delivery
MARPOL, Annex
May, 31, 2012
I,
Enforcement,
All vessels transporting heavy fuels
in the jurisdictional waters of the
Republic of Panama, must be double
hulled.
6. Delivery
DWT
26%
Single Hull
74%
Double Hull
6. Delivery
Barges
31%
Single Hull
69%
Double Hull
7. Products and qualities, ECA´s
ECA Areas: 1.00% S
UE: Ports & inland waters: 0.10% S
CARB, 24 NM: DMA: 1.5 %S Max.;
DMB: 0.5 %S Max
Global: 3.5 %S
7. Products and qualities, ECA´s
HSFO RMG 380, Sulphur max. 3.50%
 HSFO RME 180, Sulphur max. 3.50%
 IFO´s
 DMA, Sulphur max. 0.50%
 LSGO, Sulphur max. 0.10%


LSFO RMG 380, Sulphur max. 1.00%
Canal expansion, impact in bunkers demand
Considerations:
◦ Natural increase of international trade.
◦ Possible changes in patterns of routes due to an
expanded Canal
Canal expansion, impact in bunkers demand
Real 2011: 322 M. de CP-SUAB*
6.67% deviation
* El Canal de Panamá / Sistema Universal de (PC / UMS) para fines de facturación Panamá Canal. PC / UMS se
basa en una fórmula matemática para calcular el volumen total del buque; Una tonelada CP / SUAB neto es
equivalente a 100 pies cúbicos de capacidad
Canal expansion, impact in bunkers demand
Canal expansion, impact in bunkers demand
Canal expansion, impact in bunkers demand
Panama Ports Company – Cristobal
Panama Ports Company - Balboa
Colon Container Terminal
Manzanillo International Terminal (MIT)
Canal expansion, impact in bunkers demand
Other traffics:
The route pacific-atlantic and viceversa
shall be more competitive due to use of
larger vessels.
The possibility to full load actual panamax
up to 29% more, will bring bigger cargoes
and will optimise costs
Canal expansion, Risks

Slowdown in World Economy recovery

Arctic route
Conclusions





The new Panama Canal could change patterns of
routes and so new cargo and vessel passing through
de Canal.
Transshipment activities shall be the most important
and will bring more changes to the Canal.
Geographical location shall remain as a key factor for
success.
All range of products must be offered to be able to
compete in a global market.
New terminals will displace the old ones and will make
Panama more competitive
END
THANKS…

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