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.
Photo credit: SK Energy
Published: 10 February 2020
On 5th June 2021, VPS carried out a Remaining On Board (R.O.B.) survey on board a Singapore-registered bunker tanker at short notice by the Charterer and quickly identified the theft of 98 metric tons of bunker fuel.
The Bunkerchain Pte Ltd and Helmsman LLC sponsored event will be moderated by Gabian Chew, Senior Editor of Singapore bunkering publication Manifold Times.
No quarantine required if vessels have not called at Brazil, India, Nepal, Pakistan, the Philippines and South Africa during the 21 days prior to arrival at Hong Kong port, according to Marine Department notice.
CCIC discuss the progression of MFM technology for bunkering at Singapore port with Manifold Times; and possible development of a primary facility for MFM calibration.
‘The acquisition of PGI Industries will enhance VPS’ preventative maintenance services offered to the power sector, increasing protection and sustainability of the asset,’ says Malcolm Cooper, CEO, VPS.
A foreign vessel was involved in an alleged unauthorised STS incident with bunker tanker Pearl Melody on 5 June, Director and General Manager of Consort Bunkers tells Manifold Times.
14 Jun 2021