South Korea's SK Energy Tests Market for Resumed HSFO Deliveries

by Ship & Bunker News Team
Friday February 5, 2021

South Korean energy producer SK Energy has resumed selling HSFO as a bunker fuel, testing the local market for the now more niche fuel among shipowners with scrubbers.

The resumption started in late January and is on a trial basis, importing the product from Singapore, price reporting agency Argus Media reported on Friday, citing market sources. The company has capacity to deliver 10,000 mt/month, and may increase this to 15,000-20,000 mt/month, Argus said.

SK added a vacuum residue desulfurization unit at its Ulsan refinery last year, delivering a large increase to its output of VLSFO.

HSFO at Busan cost $397.50/mt on Thursday, according to Ship & Bunker pricing, $30/mt over Singapore's level.