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Tue 6 Jul 2010, 07:23 GMT

Utility buys 72,000 mt fuel oil cargo


Asian utility purchases fuel oil cargo for delivery in August.

Korea East-West Power Co. Ltd. (EWP) has purchased 72,000 tonnes of medium-sulphur fuel oil for delivery in August, news agency Reuters reports.

The South Korean generation company, owned by the government-run Korea Electric Power Corporation, is reported to have bought the cargo of 2.5 percent maximum sulphur fuel oil for delivery at the port of Ulsan between August 1-6.

The fuel oil parcel is understood to have been purchased from Swiss-based commodity trader Glencore at a premium of $5 per tonne over Singapore spot quotes on a cost-and-freight (CFR) basis.

EWP issued the tender towwards the end of last month. The closing date of the tender was 05:00 GMT on July 5th.

Deal   Republic of Korea  Ulsan (KR) 
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