Asia/Pacific News
GS Caltex Doubles 500 cst Bunker Sales
Tuesday October 29, 2013
South Korea's GS Caltex doubled its sales of 500 cst bunker fuel in August and September thanks to increased storage capacity for the grade, Platts reports.
Sales for the product were 50,000 metric tonnes (mt) per month, up from 25,000 mt in July.
Competitive pricing from the refiner also helped its sales volume, according to one trade source.
GS Caltex started selling the grade in May, and sold 10,000 mt in that month - one third on the grade's total demand in May.
A source was quoted as saying GS Caltex's October sales were also forecast to hit 50,000 mt, and the refiner is aiming to increase their 500 cst sales to 70,000-100,000 mt.
