Fuel oil cargo purchased via tender

Tue 20 May 2014, 15:10 GMT

Fuel oil cargo purchased via tender

Parcel of high sulphur fuel oil is scheduled for delivery next month.

Korea East-West Power Co. Ltd. (EWP) has purchased 50,000 tonnes of high sulphur fuel oil via tender, ICIS reports.

The South Korean generation company, owned by the government-run Korea Electric Power Corporation, is said to have purchased the 540 centistoke (cSt) cargo from independent energy trader Mercuria at a premium of $5.20 per tonne above the Singapore 180 cSt mean price on a cost-and-freight (CFR) basis.

The fuel oil parcel is due for delivery at Ulsan between June 6-10, a Singapore-based trader said.

EWP previously awarded a similar fuel oil tender for April 11-15 loading to Hanwha at a CFR premium of $6.66/tonne, ICIS data showed.

The recent decline in fuel oil prices appears to be showing no signs of improving despite tightening fuel oil supplies in Singapore and higher crude prices, industry sources said.

Deal Republic of Korea


		WinGD to host webinar on methanol- and ethanol-flexible fuel engine technology Engine manufacturer will discuss market outlook, regulations and operational experience with alcohol-based marine fuels.

		Peninsula opens applications for 2026 graduate programmes in marine fuels trading Two-year scheme offers positions across six global locations starting in September, combining hands-on experience with structured development.

		Oilmar DMCC promotes Collin She to key account manager role She will lead strategic customer relationships and drive growth opportunities in Singapore and the wider region.

		Dorian LPG takes delivery of dual-fuel VLGC capable of carrying ammonia The 93,000-cbm Areion can run on LPG or fuel oil and transport ammonia cargoes.

		RINA awards ISCC EU certification to OLT Offshore LNG Toscana for bio-LNG supply Certification enables bio-LNG use in the EU as a renewable fuel under RED II and RED III directives.

		WSC calls for safe maritime corridor as 20,000 seafarers remain trapped in the Persian Gulf Industry body urges IMO member states to establish safe passage and supply access.

		Auramarine to host webinar on ammonia as marine fuel in April Finnish firm will explore ammonia’s role in maritime decarbonisation at its third spring webinar.

		Green ammonia could reach cost parity with VLSFO and LNG by 2050, study finds WinGD and Envision Energy study projects green ammonia operational costs competitive with conventional marine fuels.

		Bureau Veritas verifies methane emissions on Brittany Ferries’ LNG vessels Verification enables ferry operator to report measured methane slip instead of regulatory default values.

		Alliance calls for urgent black carbon action as new Arctic emission control areas take effect Canadian Arctic and Norwegian Sea ECAs now in force, with compliance deadline set for March 2027.