Asia/Pacific News
South Korea Refiner to Continue Bunker Fuel Cargo Imports
South Korea's GS Caltex is likely to continue monthly imports of high sulfur bunker fuel cargoes in order to keep up its bunker sales volume, a source has told Platts.
According to the source, the company bought 60,000 metric tonnes (mt) of 380 cSt bunker-grade high sulfur fuel oil (HSFO) cargo for delivery in April, 75,000 mt of the same grade so far in May, and plans to buy 70,000 mt in June.
The refiner, which did not regularly import bunker fuel cargoes prior to April 2013, was said to have reduced fuel oil production at its 53,000 barrel per day (bpd) vacuum gasoil fluid catalytic cracker (FCC) and started commercial operation of a new FCC unit in mid-March at its 775,000 bpd Yeosu refinery.
The company's production of bunker fuel has declined as a result.
Earlier this month GS Caltex said it will begin supplying 500 cSt bunkers on May 23, 2013, becoming the second refiner in the country to do so. SK Energy started supply of the product in April.
