Asia/Pacific News
Korean Refiner Eyes Bunker Biofuel Sales to Ships
Tuesday July 30, 2024
The South Korean refiner, HD Hyundai Oilbank, has started to export blended bunker fuel to international shipping.
The rules surrounding exports of blended producted were adjusted earlier in the year and product blended in a bonded zone was exported for the first time on July 29, according to business news provider the Korea Economic Daily.
The refiner is looking to sell 60,000 metric tonnes a year of the blended bunker fuel to international shipping.
If sales were expanded to include overseas brokers, that figure could rise to 400,000 mt a year, the report added.
The product is a blend of ultra-low sulfur fuel oil and biodiesel supplied by a domestic company.
