Hyundai Oilbank launches eco-friendly fuel brandHyundai Oilbank launched an eco-friendly marine fuel brand on Thursday dubbed Hyundai Star.
Hyundai Star offers low-sulfur fuel oil. The launch comes ahead of new marine fuel regulations coming into effect on Jan. 1.
Under regulations created by the International Maritime Organization (IMO), a United Nations body overseeing international shipping, vessels have to use marine fuel with a sulfur content of no more than 0.5 percent from January 2020, a major change from the current limit of 3.5 percent.
Hyundai recently installed facilities that can lower sulfur content in residue oil, or bunker fuel, the dominant power source for ships before the new sulfur cap, and remove impurities like asphaltene completely, it claims. Asphaltene in marine fuel often causes engines to break.
The oil refiner is already operating a production line for low-sulfur fuel oil at its Daesan plant in South Chungcheong with a capacity of 50,000 barrels per day.
By Song Kyoung-son