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Hyundai Oilbank to start VLSFO bunker fuels sales in November

23 Oct 2019

Seosan-based petroleum and refinery company Hyundai Oilbank on Tuesday (22 October) said it is targeting to supply very low sulphur fuel oil (VLSFO) product as marine fuel from November onwards.

The company made the announcement on the back of an application for a domestic patent of its VLSFO manufacturing process.

“Hyundai Oilbank has applied the world's first new technology to completely remove asphaltenes, which hinder the stability of mixed oils, with its own solvent treatment method,” it said. 

“Asphaltene causes clogging of filters, piping, etc., which reduces the fuel economy of the vessel and, in severe cases, renders it impossible to inject the fuel normally.

“By solving the stability problems of mixed oils, Hyundai Oilbank has been able to cope with the increasing demand for ultra-low sulphur ship oils by combining various oils. 

“In addition, by utilising existing facilities, the company can minimize investment costs and select the existing mode and ultra-low sulphur ship oil production mode according to the market demand.”

An official from Hyundai Oilbank notes the company will continue to innovate to meet market demands.

“We have continued to develop core source technologies in preparation for tougher environmental regulations,” he said.

“We will continue to actively respond to market changes by securing long-term contracts for ultra-low sulphur vessels with advanced technologies.”

Photo credit: Hyundai Oilbank
Published: 23 October, 2019

 

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