Asia/Pacific News
KSA and SK Energy Launch Bunker Sales Outside South Korea
The Korean Shipping Association and SK Energy are setting up bunker supply operations outside South Korea.
The two organisations launched a pilot operation to supply bunkers in Thailand in May, the KSA said in a statement on its website last week.
They now intend to launch full-scale supply operations in Taiwan, Hong Kong, Thailand, Japan and Singapore in the second half of the year.
Supply has already started in Taiwan, Hong Kong and Thailand.
The organisations plan to supply VLSFO and 0.1% sulfur LSMGO.
"Through this new overseas fuel oil supply business promoted by the association, not only will it be possible to secure stable fuel oil supply for the association members in terms of quantity, quality, and on-time supply compared to the existing overseas supply chain (trader), but it will also be possible to resolve supply-related claims quickly through the association and the oil refinery," the KSA said.
"In addition, the foreign currency payment and credit supply system implemented by the association to strengthen management support for the association members are expected to help reduce the operating costs of the association members."
