HD Hyundai Oil Bank said on 12 December that it exported ultra-low sulphur bio marine oil to Taiwan shipping company Yang Ming for the first time among domestic refining companies.
Bio marine oil is an environmentally friendly fuel that blends biodiesel into existing fossil fuel-based marine oil. The International Maritime Organisation (IMO) has announced that it will be carbon neutral by 2050, and it is attracting attention as an alternative environmentally friendly fuel.
The advantage of biomarine oil is that, unlike other alternative fuels, there is no need to modify the ship’s engine and fuel supply system. This means that existing ship oil supply infrastructure can be utilised intact.
HD Hyundai Oilbank succeeded in supplying the oil to domestic shipping companies for the first time in July this year.
The bio-oil supplied this time was produced on the basis of ultra-low-sulfur heavy oil with a sulfur content of 0.5 percent or less. Since ships are not required to install desulphurisation equipment in order to meet the limit of sulphur oxide exhaust emission, the bio marine oil is more popular in the market than the high sulphur heavy oil based bio marine oil with high sulphur content.
HD Hyundai Oil Bank said, ‘Based on our differentiated logistics competitiveness, we will expand our supply to shipping companies in Japan, Singapore and Europe.’