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Hyundai Oilbank plans supply of IMO-compliant fuel in November

Hyundai Oilbank announced that it will commence supply of very low sulphur fuel oil (VLSFO) from November in response to the anticipated growing demand for cleaner marine fuels.

The planned sales of VLSFO also come as the IMO is set to make it mandatory for all ocean-going vessels to use bunker fuels with a maximum fuel sulphur content of 0.5% from 1 January 2020, down from the current cap of 3.5%.

Hyundai Oilbank, South Korea’s smallest refiner by capacity, said it has made an application for a domestic patent of its VLSFO manufacturing process.

“Hyundai Oilbank has applied the world’s first new technology to completely remove asphaltenes, which hinder the stability of mixed oils, with its own solvent treatment method. Asphaltene causes clogging of filters, piping, etc., which reduces the fuel economy of the vessel and, in severe cases, renders it impossible to inject the fuel normally,” the Korean refiner stated.

“By solving the stability problems of mixed oils, Hyundai Oilbank has been able to cope with the increasing demand for ultra-low sulphur ship oils by combining various oils,” it explained.

The refiner added that it has signed term contracts to supply VLSFO and will continue to innovate to meet future market demands.