Malaysian palm oil futures closed lower on Thursday and fell for the fifth consecutive session as they were dragged down by uncertainty over Indonesian and U.S. biofuel policies. Analysts said crude palm oil prices continued to fall from Wednesday as sentiment in the global vegetable oil market changed this week, in addition to higher vegetable […]
Portugal’s Galp Energia (GALP.LS) said on Thursday it expects to start building an industrial-scale unit at its Sines refinery in 2026 to produce biodiesel and biojet fuel from waste. Last year, Galp set up a joint venture with Japan’s Mitsui & Co (8031.T) with a 75%-25% stake each, and the new label will invest 400 […]
Supporting and advancing future marine fuels technologies and investments, the U.S. Department of Energy (DOE) issued a Request for Information (RFI) to establish a consistent and reliable definition of sustainable marine fuels (SMF) to inform and coordinate with communities, industry, government, and other maritime stakeholders. Maritime Energy and Emissions Innovation Action Plan (Action Plan), a […]
December 19: Petrobras has signed contracts worth R$16.5 billion ($2.6 billion) with Bram Offshore and Starnav Serviços Marítimos for the construction and chartering of 12 platform supply vessels (PSVs). Of the total value of the contract, R$5.2 billion (approximately US$830 million) will be invested in the Brazilian shipbuilding industry. The vessels will be an integral […]
Indonesia’s plan to expand its biodiesel mandates from 1 January 2025 has raised concerns that it could curb global palm oil supplies. Indonesia’s plan to expand its biodiesel blending ratio mandate from 1 January 2025 appears increasingly likely to be implemented gradually as industry players seek a phased-in implementation, analysts said. Indonesia’s plan to increase […]
Energy company Mabanaft has reached an agreement with shipping company Hapag-Lloyd to supply B30 marine biofuel. On 12 December, Mabanaft’s Waltershof tank farm in the German port of Hamburg will make the first test delivery of 1,000 metric tonnes of B30 very low sulphur fuel oil (VLSFO) to the container ship Delaware Express. The delivery, […]
HD Hyundai Oil Bank said on 12 December that it exported ultra-low sulphur bio marine oil to Taiwan shipping company Yang Ming for the first time among domestic refining companies. Bio marine oil is an environmentally friendly fuel that blends biodiesel into existing fossil fuel-based marine oil. The International Maritime Organisation (IMO) has announced that […]
The UK Trade Remedies Agency (TRA) has initiated a transitional review of Indonesia’s countervailing measures on biodiesel. The measure, which was inherited from the EU, is due to expire on 10 December 2024.TRA’s review will examine the effectiveness of the measure in protecting UK biodiesel producers from unfair trade practices associated with subsidies provided to […]
The Korea Times reports that HD Hyundai Oilbank’s biofuels business is achieving important milestones to meet increasingly sophisticated market demand. The refinery said it completed Korea’s first biodiesel plant using supercritical fluid technology in April and is now in commercial operation. The plant reportedly aims to produce 130,000 tonnes of biodiesel per year. The company […]
In Singapore, the shipping industry is increasingly using biofuels such as fatty acid methyl esters (FAME). However, concerns have arisen about the legality of biofuels and whether they are truly sustainable. Industry bodies have found a growing number of cases of mislabelling of biofuels purportedly made from recycled fats and oils, while suspicions remain that […]