Utility in 60,000-tonne fuel oil deal

Thu 19 Apr 2012, 10:32 GMT

Utility in 60,000-tonne fuel oil deal

Two 30,000-tonne fuel oil cargoes are scheduled for delivery in May-June.

National electricity firm Korea Western Power Co. Ltd. (KOWEPO) has purchased two cargoes of fuel oil for delivery in May-June, Reuters reports.

The utility ordered a total of 60,000 tonnes of high sulphur fuel oil via a tender process, which closed on Wednesday, April 18.

The first 30,000-tonne parcel is scheduled to arrive at the Pyong Taek Power Plant in Gyeonggi province, located north-west of the country, on May 14-18, and a cargo of the same size is due for delivery on May 30-June 3, also at the Pyong Taek Power Plant.

The fuel oil ordered contains maximum 2.59 percent sulphur and is said to have been purchased from Samsung C&T Corp at approximately $755 per tonne on a cost-and-freight (CFR) basis.

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 Republic of Korea


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