South Korea's Hyundai Oilbank announced on Oct 21 that it would start selling VLSFO from November after it had developed a production process adopting the world's latest technology and applied for a patent in the country.

The International Maritime Organization (IMO) will tighten its regulations and decrease the limit for sulfur content in bunker oil to 0.5% from 2020. In response to this, Hyundai Oilbank is using new technologies at its existing upgraded facility to produce VLSFO. The company completely removes asphaltene that hinders stability in a blended mixture by utilizing its original solvent treatment method. This is the world's first technology and is applied in the production process. As the company solved problems in stability in a blended mixture, it is able to use various blending components.