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South Korean refiner and bunker supplier GS Caltex has sold 90,000 tonnes of fuel oil for delivery between October and November 2010.

National electricity firm Korea Western Power Co., Ltd. is reported to have purchased the cargo of high-sulphur fuel oil via tender.

The deal price is understood to have been $524 per tonne on a delivered duty paid (DDP) basis. Delivery of the 30,000-tonne lot is scheduled for October 15-19 from the Pyong Taek Power Plant in Gyeonggi province, located north-west of the country.

Meanwhile, Korea Western Power is reported to have bought a second 30,0000-tonne parcel of high sulphur fuel oil from Vitol at a price of $506.73 per tonne on a cost-and-freight (C&F) basis. Delivery is due to take place on November 5-9 from the Pyong Taek Power Plant.

A third 30,000-tonne fuel oil cargo is said to have been purchased from Hyundai Oilbank at $534.76 per tonne on a DDP basis with delivery scheduled for November 15-19, also from the Pyong Taek Power Plant.

Korea Western Power Co., Ltd. (KOWEPO) is a subsidiary of Korea Electric Power Corporation (KEPCO). It operates five power plants and has an additional power plant under construction. The company serves domestic consumers as well as international markets such as Philippines, Nigeria and India.