SK Energy, the oil refining subsidiary of SK Innovation, on Sunday (2 February) said it is ready to produce low-sulphur marine fuel from March 2020 as its vacuum residue desulphurisation plant was successfully completed as planned in late January.
The company invested more than 1 trillion won (USD $840 million) into the construction of the plant in the southern city of Ulsan. The plant is currently undergoing two months of test operations and once open, is estimated to produce 40,000 barrels of low-sulphur fuel oil per day.
“The low sulphur oil market will improve in the second quarter once the stockpile of oil by shippers are exhausted” says CEO Cho-Kyong Mok.
The company offered green bonds last year to fund this project. It is expecting an annual return of 200 to 300 billion won upon completion.
Related: SK Energy to offer green bonds for funding IMO 2020 refinery project
Related: SK Energy contracts Chevron Lummus Global for LSFO refining tech
Photo credit: SK Energy
Published: 10 February 2020
Speakers highlighted the key role LNG has to play in supporting IMO’s decarbonisation targets, and agreed taking a wait-and-see approach is not a strategy.
Following successful trials on two ships in 2019, Shanghai Ming Wah Shipping Co plans to install the engine diagnostics software on 12 other bulk carriers it operates.
Unioil Supply, largest supplier of fuel to Denmark’s military, now under spotlight as Defense Minister rises questions.
Whitepaper presents business cases for various future bunker fuel candidates and communicates its view of shipping’s energy transition over the short and long term.
Vessel is designed to provide ship-to-ship transfers of LNG to vessels and ship-to-shore transfers to small scale marine distribution infrastructure along southeast U.S. coast.
Vessels to operate on carbon neutral e-methanol or sustainable bio-methanol as soon as possible and will continue to partner with relevant players.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
Cai Zhi Zhong received a total of about USD 1.3m to USD 1.6m, of which he saved a portion and spent the rest, including on property, cars and watches, according to court documents obtained by Manifold Times.
