Utility purchases fuel oil cargo

Thu 11 Apr 2013, 14:02 GMT

Utility purchases fuel oil cargo

30,000-tonne fuel oil cargo is scheduled for delivery at the end of this month.

National electricity firm Korea Western Power Co. Ltd. (KOWEPO) has purchased a cargo of fuel oil for delivery at the end of this month, Reuters reports.

The utility ordered a total of 30,000 tonnes of high sulphur fuel oil via a tender process, which closed on Thursday, April 11.

The parcel is scheduled to arrive at the Pyeongtaek Power Plant in Gyeonggi province, located north-west of the country, between April 26 and April 30.

The cargo is said to have been purchased from energy trading firm Vitol at around $650 per tonne on a cost and freight (CFR) basis,

As with previous orders placed by KOWEPO, the fuel oil ordered will be required to contain a maximum of 2.59 percent sulphur.

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.

Deal Vitol Republic of Korea Pyeongtaek (KR)


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