State utility Korea East-West Power Co (KEWPCO) has issued a tender to buy 144,000 tonnes of medium-sulphur fuel oil for January and February delivery, a company source said on Monday.
The requirement consisted of 72,000 tonnes for January 22-26 delivery and the remainder for February 9-13 delivery, said the source at the company's fuel procurement team. The tender closes on December 29.
The company last bought 72,000 tonnes of an early-January delivery cargo from local refiner SK Corp and another 72,000-tonnes lot for mid-January delivery from western trader Glencore.
The price for SK Corp's cargo was around $5 a tonne discount to Singapore spot quotes, cost and freight (C&F) basis, and the Glencore cargo was about $7-a-tonne premium, C&F basis, the source said.
Korea East-West Power is a wholly owned unit of state-controlled monopoly Korea Electric Power Corp (KEPCO).
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