Korean ambitions high

South Korea's refinery and shipping industries are seeking a place in the top ranks of the world bunkering industry by 2000.

Honan Oil Refinery Co bunkering manager S.U. Kim said this would be spurred by Seoul's recent announcement that a new terminal with 24 berths for container ships and 31 berths for other vessels is to be built at Gadog Island by 2011. A further 20 berths for containers also would be built in Kwangyang, near Yosu, by 2001, he said.

'In line with rapidly growing demand in the inland market and with some refiners' ambitions to become exporters, by the end of 1996 total refining capacity of Korea will be up to 2.52 million barrels per day, which is going to be 33 per cent expansion against 1995,' he said.