KOWEPO buys 90,000 tonnes of fuel oil

Thu 19 Feb 2015, 11:23 GMT

KOWEPO buys 90,000 tonnes of fuel oil

Two 45,000-tonne cargoes are scheduled for delivery between March 20 and April 3.

National electricity firm Korea Western Power Co. Ltd. (KOWEPO), has purchased 90,000 tonnes of high-sulphur fuel oil via two tenders that closed on Monday, a company source informed Reuters.

KOWEPO is said to have bought a 45,000-tonne fuel oil cargo from Hanwha Corp that is scheduled for delivery on March 20-24 at the port of Pyeongtaek.

The second parcel of 45,000 tonnes was purchased from Vitol and is due to arrive at Pyeongtaek between March 30 and April 3, Reuters said.

Details of the price paid for each cargo were not disclosed, but the deals were understood to have been agreed on a cost and freight (CFR) basis.

Korea Western Power Co., Ltd. is a subsidiary of Korea Electric Power Corporation (KEPCO) - South Korea's largest energy utility - which provides 93 percent of the country's energy.

Deal Vitol Republic of Korea Pyeongtaek (KR)


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