Biofuel project in the offing. File image/Pixabay.
A joint South Korean Indonesian project to sell bunker fuel made from vegetable oil in Singapore is looking for a bunkering partner in the southeast Asian hub.
Seoul-based GF Oil, Sejong Technology and Indonesia's Korindo are planning to set up a bio-fuel plant on the Indonesian island of Bintan to sell product into the bunker and power markets.
For bunkering, the ultra low sulfur marine fuel oil will have similar properties to the current high sulfur main grade of fuel oil, 380 CST.
The phased project would aim to be producing 3 million metric tones of the fuel by phase 3.
The consortium is looking for a bunker company to work with for the Singapore segment of the project.