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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Utility in 60,000-tonne fuel oil deal

Two 30,000-tonne fuel oil cargoes are scheduled for delivery in January 2011.





Updated on 30 Dec 2010 08:47 GMT

National electricity firm Korea Western Power Co., Ltd. (KOWEPO) has purchased 60,000 tonnes of high sulphur fuel oil for delivery in January 2011, Reuters reports.

The utility bought two 30,000-tonne cargoes of 2.59 percent sulphur cargo via tender late on Wednesday, industry sources said.

Delivery of the first 30,000-tonne lot is scheduled for January 10-14 at the Pyong Taek Power Plant in Gyeonggi province, located north-west of the country. The second parcel is due to be delivered on January 15-19, also at the Pyong Taek Power Plant. Details regarding the deal price and the seller were not disclosed.

Earlier this month KOWEPO purchased two 30,000-tonne cargoes of high-sulphur fuel oil for January delivery via tender. One of the lots was said to have been bought from refiner Hyundai Oilbank at $581.7 per tonne on a delivered duty paid (DDP) basis, and the other from Samsung C&T at $543 per tonne on a cost-and-freight (CFR) basis.

Korea Western Power Co., Ltd. (KOWEPO) is a subsidiary of Korea Electric Power Corporation (KEPCO). It operates five power plants and has an additional power plant under construction. The company serves domestic consumers as well as international markets such as Philippines, Nigeria and India.






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