Utility seeks 30,000-tonne fuel oil cargo

High sulphur fuel oil cargo is required for delivery in September.



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Updated on 16 Aug2011 10:22 GMT

National electricity firm Korea Western Power Co. Ltd. (KOWEPO) has issued a tender to buy 30,000 tonnes of high sulphur fuel oil.

The company is seeking 2.59 percent sulphur fuel oil for delivery between September 19th and 23rd to its Pyong Taek Power Plant in Gyeonggi province, located north-west of the country.

The tender is due to close on August 22nd at 2 p.m. local time (05:00 GMT).

Last month KOWEPO purchased the same quantity of high sulphur fuel oil from Hanwha Corp. at around $700 per tonne on a cost and freight (CFR) basis. Delivery was scheduled for August 22nd to 26th.

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.