Singapore’s CAO invests in Oilhub Korea Yeosu

Asia’s largest physical jet fuel trader, China Aviation Oil (Singapore) Corporation, Ltd., announced that it has acquired a 26% stake in Oilhub Korea Yeosu Co, Ltd. (OKYC), for KRW34,128.12 million (US$30.19 million). OKYC is based in South Korea, where it owns, operates, and develops the NEA Hub Terminal. The terminal has a storage capacity of 4.22 million barrels of products, as well as 3.96 million barrels of crude oil. The NEA Hub Terminal is strategically located and requires only 1.88 days and 1.21 days of shipping time to the cities of Shanghai and Tianjin in China. The terminal also supports trading activities to Southeast Asia and the U.S. West Coast. (April 18, 2012)