Tanker Involved In South Korean Oil Spill Offloads Oil

By MarEx 2014-02-17 10:32:00

A tanker operated by Singapore's Ocean Tankers completed offloading 278,000 tons of crude oil in South Korea over 15 days because the vessel hit a pipeline as it was docking, which caused an oil spill.

The pipeline, which is managed by GS Caltex Corp, spilled oil at a quay off Yeosu, more than 300 km (185 miles) south of Seoul. The spill was estimated about 1,000 barrels from the pipeline was spilled. The oil tanker did not spill oil. 

South Korea's Ministry of Oceans and Fisheries said on Monday, the Wu Yi San, a 318,445 dwt VLCC, discharged its cargo of about 140,000 tons on Thursday and Sunday.

The tanker was chartered to Shell, and it will be repaired and the remaining cargo of crude was transferred to another ship. 

The GS Caltex has a throughput capacity of 775,000 barrels per day (bpd), but it has had to cut runs by 170,000 bpd during the last five days.

GS Caltex, the second-largest South Korean refiner, is owned by Chevron Corp and South Korea's GS Energy, an affliate of GS Holdings.

By Meeyoung Cho (C) Reuters 2014.