HSFO sales at South Korean ports look set to grow this year. File Image / Pixabay
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.