Panama’s Booming Energy Market
Sheshieda Davis – Sheshieda leads the Americas team at Aspect Enterprise Solutions assisting energy and agricultural companies with their complex problems related to commodity trading, risk management, logistics and back office functions with Aspect solutions.
As Aspect’s Managing Director of the Americas, I recently joined The Vessel Group, an Aspect Premium Partner, on a trip to Panama City to explore the region’s bustling energy market and connect with local industry professionals. After investigating the business climate, it’s clear that the country is thriving.
Panama’s Economy Booms & Boosts Energy Demand
Panama is experiencing an economic boom. The country has become one of the fastest growing economies in Latin America and expands at an average rate of 8 percent annually. As the business climate continues to improve, the demand for energy is rising. Panama has new investment, supply, and infrastructure to meet growing energy needs. The government has taken a diversified approach to expand their energy market and is investing in oil, diesel, natural gas, and alternative renewable sources.
Panama’s Bunker Sales Continue To Rise
Over the past two years, Panama’s bunker sales increased by roughly 25 percent. The expansion of the Panama Canal in 2016 led to a rise in the country’s marine fuel sales and there are no signs of slowing down. Larger ships can now pass through the widened Canal, and Panama’s supply of high sulphur residual fuel remains high.
Aspect Solutions For Bunker Traders
Aspect is proud to have clients in many Latin American countries with growing energy markets including Panama, Uruguay, Chile, Peru, and Brazil. Our solutions are also used by dozens of bunker trading firms across the globe including Chemoil, Glander International Bunkering, Dan-Bunkering, Bomin Bunker Oil Corp, and Aegean Marine Petroleum. AspectCTRM assists energy traders in reducing risk and managing trades to optimize operations and improve margins. Aspect’s cloud based ETRM software is specifically tailored to meet the needs of bunker and oil traders. With AspectCTRM, you can:
- Manage Local and Global Supply
- Capture Deals
- Track Value of Blended Storage
- Manage Floating Storage
- Monitor Supply Chain Movements
- Manage Cost for Barge Deliveries
- Value Derivatives for Hedging Price Risk
If you’re a trader looking to profit from Panama’s energy boom, you’ll gain a competitive advantage by using ETRM software to analyze your daily P&L and exposure while keeping up with the latest market news and prices. AspectCTRM optimizes your entire trading cycle, from reporting to invoicing.
Want to learn more about Aspect solutions and meet the team in person? Look for us at upcoming industry events, or contact me directly at firstname.lastname@example.org. We’ll be in Miami for the Argus Fuel Oil and Feedstock Summit and Panama for Maritime Week Americas 2018.