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
Kongstein has 31 years of experience in the bunkering and shipping industry, a portfolio of senior management roles and a track record of operational results.
Development will take place when SK Energy’s 130,000 bpd capacity VRDS unit start operations from April 2020.
Orders come from Italian ferry operators Onorato Armatori and Grandi Navi Veloci.
Pagh has demonstrated significant understanding for and execution of the company’s values, says Manager.
‘Increasing protectionist measures may become widespread as nations seek to fix exposed vulnerability which the health crisis has made clear,’ says Chief Shipping Analyst.
‘Pick up in the oil and gas industry continued to contribute positively in demand for the bunkering business.’
The local bunkering sector has adapted to IMO 2020 requirements and LSFO is now available at more than two earlier locations, notes bunker supplier Trillion Energy.
Claiming USD 108,887.87 for the supply and delivery of 310.00 mt of low sulphur marine gas oil at the Port of Jeddah on or about 23 February 2020.
A sanitisation expert offers Manifold Times a summary of the processes involved in disinfecting a ship together with the equipment and products used in the operation.
‘As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction,’ says Simon Neo.
Laboratory looking to collaborate with Singapore bunker surveyors to roll out COVID 19 testing service, which has been successfully adopted by land-based industries, to the maritime sector.
Sinfeng Marine Services filed an application to the Court of Appeal to withhold information from the liquidators on October 2019; the appeal was dismissed a month later.
