South Korea refiner S-Oil believes the upcoming 2020 regulation of a low sulphur cap for marine fuel will provide refiners with demand and increased margins for higher quality products, provided investment be made now.
“In the next year, the market fundamental will be continuously supportive amid a lack of new capacities,” it said in a recent earnings statement.
“And upcoming implementation of regulation regarding marine bunker fuel will boost the margin for complex refineries.”
Since 2015, the company has invested a total of KRW 4.8 trillion ($448 million) to upgrade the quality of fuel from its residual fuel oil and olefin units; these improvements are expected to be commissioned in the first half of 2018.
S-Oil recorded operating income of KRW 1.5 billion in 2017, lower than operating income of KRW 1.6 billion in 2016.
Published: 30 January, 2018
‘We are here to transfer the extremely valuable knowledge gained over the past six years to the maritime sector, such that our customers are comfortable in the use of such biofuels,’ states CEO Olivier Baiwir.
Newly appointed Anthony Mollet speaks to Manifold Times about his role, vision, value proposition and plans for the Marine Fuels Alliance to become a wide-reaching and engaging bunkering industry association.
SFP will be retrofitting VPT’s existing bunker vessel with its Full Electric Ready (FER) system and seeks to commission the vessel in the second quarter of 2022, CEO of SFP George Lee tells Manifold Times.
Equatorial Marine Fuel Management Services, Oldendorff Carriers, Lloyd’s Register and organisers took part in a Bunker Quality Claims Webinar moderated by Manifold Times on 10 November.
‘Though it did introduce temporary commercial and operational disruptions, we took a constructive view of the situation and chose to use this event as a learning opportunity,’ shares a Consort Bunkers spokesperson.
Gealubes Consulting & Trading, the authorised marine business distributor of PANOLIN EALs at Singapore port, shares a two-part education series on Environmentally Acceptable Lubricants on Manifold Times.
30 Nov 2021