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Utility purchases fuel oil cargo

Asian firm buys 30,000-tonne cargo and issues a tender for an additional 60,000 tonnes.



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Updated on 06 Aug 2012 07:55 GMT

National electricity firm Korea Western Power Co. Ltd. (KOWEPO) has purchased a 30,000-tonne cargo of fuel oil for delivery in August and is also seeking an additional 60,000 tonnes for delivery next month.

The utility bought 30,000 tonnes of high sulphur fuel oil via a tender on August 1. The parcel is scheduled to arrive at the Pyong Taek Power Plant in Gyeonggi province, located north-west of the country, on August 27-31, The fuel oil ordered contains maximum 2.59 percent sulphur and is said to have been purchased from Samsung C&T Corp at a premium of $28.94 per tonne over Singapore spot prices on a cost and freight (CFR) basis.

KOWEPO's requirement for 60,000 tonnes of fuel oil containing a maximum of 2.59 percent sulphur is due for delivery on September 6-10, also at the Pyong Taek Power Plant. The tender is due to close at 4 p.m. local time on August 9.

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.






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