Asia/Pacific News
S-Oil to Sell Low-Sulfur Bunkers in Korea
South Korea's S-Oil will start selling low-sulfur bunker fuel in April to meet a demand for the fuel that has grown since a new limit on sulfur emissions went into effect in North America, Platts reports.
The company will supply the fuel from its 669,000 barrels per day (bpd) refinery in Onsan.
In June last year, shortly before the August start of a 1 percent limit on sulfur content in the North American Emissions Control Area (ECA), SK Energy and GS Caltex began supplying the low-sulfur fuel.
Combined volume from the two companies, which are the only sources of the fuel so far in the country, is now about 30,000 to 35,000 metric tonnes (mt) per month.
Hyundai Oilbank plans to begin supplying about 5,000 mt per month of the low-sulfur fuel in March, out of a monthly total of 120,000 mt in bunker sales.
Ship & Bunker data for today shows the low sulfur product in the country's port of Busan is trading at a premium of $143.50 per metric tonne (pmt) over 3.5 percent maximum sulfur IFO380, at $819.50 pmt and $676.00 pmt respectively.
