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Joint venture de Vibra e Copersucar vira Evolua Etanol

  • Market: Biofuels
  • 01/07/22

A distribuidora de combustíveis Vibra e a cooperativa de produtores de etanol Copersucar batizaram sua joint venture de trading de etanol com o nome de Evolua Etanol, quase um ano depois do anúncio da parceria entre as duas empresas.

A empresa tem como meta comercializar 9 milhões de m³ de etanol no seu primeiro ano de atuação. A Vibra deterá 49,99pc do controle acionário da nova empreitada, e a Copersucar, 50,01pc.

A joint venture será responsável pela compra de etanol para as distribuidoras da Vibra e também pela comercialização do biocombustível produzido por suas usinas associadas. As duas empresas são líderes de mercado nos seus respectivos segmentos.


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09/05/25

EU consults on tariffs for €95bn US imports

EU consults on tariffs for €95bn US imports

Brussels, 9 May (Argus) — The European Commission is consulting on an extensive list, worth €95bn ($107bn), of US industrial, agricultural and other imports that could be subject to tariff countermeasures. The long list includes extends from livestock, biofuels, wood pellets to metals, aircraft, tankers and polymers . The consultation runs until midday on 10 June. It is aimed at stakeholders affected by US measures and possible EU rebalancing measures. Also considered for possible countermeasures are restrictions, worth €4.4bn, on EU exports to the US of steel, iron and aluminium scrap, as well as toluidines, alcoholic solutions and enzymes (CN codes 7204, 7602, 292143, 330210 and 350790). The commission linked the possible new measures to US universal tariffs and to Washington's specific tariffs on cars and car parts. The commission said the public consultation is a necessary procedural step. It does not automatically result in countermeasures. The EU also launched a WTO dispute procedure against the US for Washington's universal tariffs, set at 20pc for EU goods and currently paused at 10pc, and at 25pc on all imports of vehicles and car parts. The commission will need approval by EU governments under a simplified legislative procedure. Officials say this will complete a legal act for the countermeasures, making them "ready to use" if talks with the US do not produce a "satisfactory" result. The list of products potentially targeted includes livestock, along with items ranging from spectacles to antiques. The 218-page list includes a range of agricultural and food products including oats, maize, and cereal pellets. Also included are biodiesel and wood pellets (CN codes 38260010, 44013100), as well as paper and cotton products. Aluminium, iron, steel are listed together with a wide range of other goods from gas turbines, ships propellers and blades, aircraft, sea-going tankers and other vessels. Polymers, copolymers, polyesters and other products are not spared (CN codes 39039090 and more). On 10 April, the EU paused its reciprocal tariffs against the US for 90 days, responding to a US pause. The EU notes that €379bn, or 70pc, of the bloc's exports to the US are currently subject to new or paused tariffs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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News

HSFO defies the green tide


08/05/25
News
08/05/25

HSFO defies the green tide

New York, 8 May (Argus) — High-sulphur fuel oil (HSFO), once seen as a fading relic, is proving remarkably resilient (see table) despite the maritime sector's push toward decarbonization. The fuel remains economically attractive thanks to persistent scrubber investments and regulatory frameworks that fail to fully penalize its use. Under the EU notation, HSFO and very low-sulphur fuel oil (VLSFO) are assigned the same calorific and greenhouse gas emission values. This equivalence means that ships fitted with scrubbers — systems that strip out sulphur oxides — face no additional penalties for choosing HSFO over VLSFO. As a result, greenhouse gas fees under FuelEU Maritime and the EU emissions trading system (ETS) offer no disincentive for scrubber users to stick with cheaper HSFO. In March 2025, the VLSFO-HSFO spread in Singapore narrowed to just $44/t, the lowest since the IMO 2020 sulphur cap took effect. At that level, a scrubber on a capesize bulker pays for itself in under two years. When the spread averaged $122/t in 2024, the payback period was about eight months. Even in regulated markets like Europe, economics favor HSFO. Under the EU ETS, ships operating in, out of or between EU ports must pay for 70pc of their CO2 emissions in 2025. In Rotterdam, bunker prices including ETS surcharges still favor HSFO: $575/t for HSFO, $605/t for VLSFO, and $783/t for a B30 Used cooking oil methyl ester blend. While biofuels, methanol and LNG are inching forward in market share, they remain cost-prohibitive. In the meantime, HSFO, with scrubber backing, continues to punch above its environmental weight. By Stefka Wechsler Selected ports marine fuel demand t % Chg 1Q 25-1Q 24 1Q 2025 less 1Q 2024 1Q 2025 1Q 2024 Singapore HSFO 1.0% 33,160.0 4,898,372.0 4,865,212.0 VLSFO/ULSFO -13.0% -1,005,951.0 6,829,667.0 7,835,618.0 MGO/MDO -5.0% -49,012.0 907,874.0 956,886.0 biofuel blends 187.0% 237,552.0 364,418.0 126,866.0 LNG 34.0% 25,935.0 101,856.0 75,921.0 Rotterdam HSFO 1.0% 11,169.0 829,197.0 818,028.0 VLSFO/ULSFO 14.0% 118,670.0 976,249.0 857,579.0 MGO/MDO 3.0% 9,662.0 393,071.0 383,409.0 biofuel blends -60.0% -158,597.0 104,037.0 262,634.0 LNG 7.0% 7.0 104.0 97.0 Panama HSFO 22.0% 65,266.0 362,388.0 297,122.0 VLSFO/ULSFO 25.0% 177,296.0 878,776.0 701,480.0 MGO/MDO 22.0% 27,097.0 150,980.0 123,883.0 — Maritime and Port Authority of Singapore, Rotterdam Port Authority and Panama Canal Authority Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Bangchak tests runs at Thai SAF plant before 3Q launch


08/05/25
News
08/05/25

Bangchak tests runs at Thai SAF plant before 3Q launch

Singapore, 8 May (Argus) — Thai energy group Bangchak is conducting test runs at its sustainable aviation fuel (SAF) plant in Bangkok before likely starting regular production in the third quarter, sources close to the company said. The plant, which is also the country's first SAF plant, will have an initial production capacity of 1mn litres/d. It will mainly consume ISCC-certified used cooking oil (UCO) as feedstock for SAF production via the hydroprocessed esters and fatty acids (HEFA) pathway. Other feedstocks could also be explored in the future, company sources said. The plant will also produce byproducts such as bio-LPG and bionaphtha. Its SAF production process was developed in collaboration with Belgian biofuels processing technology company Desmet, which provided feedstock pre-treatment technologies, and US technology firm UOP Honeywell, a pioneer in hydroprocessing systems, according to Bangchak. Thailand is currently considering the introduction of a SAF mandate at a 1pc blend rate from 2026, with proposals to increase this to 3pc in 2030 and 8pc by 2037. But firm details on implementation mechanisms have yet to be announced. Thailand's board of investment in January approved corporate tax exemptions for SAF producers and investors in the country for a period ranging over 3-8 years. Bangchak has already secured offtake for some of its initial production volumes. The firm last year entered an agreement with oil major Shell's Singapore-based subsidiary to supply SAF from its plant. Bangchak also previously signed another supply agreement with Japanese refiner Cosmo Oil in December 2023, but volumes are still under discussion, a company source said. The Argus fob Singapore SAF netback price has been on a downtrend since late last year, reaching a record lows of $1,668/t on 5 March, and also marking the lowest since Argus ' assessments started in November 2020. The price was at $1,682/t on 7 May. By Sarah Giam Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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IMO GHG pricing falls short on green methanol, ammonia


07/05/25
News
07/05/25

IMO GHG pricing falls short on green methanol, ammonia

New York, 7 May (Argus) — The International Maritime Organization's (IMO) proposed global greenhouse gas (GHG) pricing mechanism might not drive significant uptake of green methanol and green ammonia by 2035, given current market prices. Despite introducing penalties on high-emission fuels use and tradable surplus credits for low-emission fuels, the mechanism does not sufficiently close the cost gap for green alternatives. Under the system, starting in 2028 ship operators will face a two-tier penalty: $100/t CO₂e for emissions between the base and direct GHG intensity limit, and $380/t CO₂e for those exceeding the looser base limit. These thresholds will tighten annually through 2035. Ship operators can earn tradable credits for overcompliance when their GHG emissions fall below the direct limit. Assuming a surplus CO₂e credit value of $72/t — mirroring April 2025's average EU emissions trading system price — green ammonia would earn about $215/t in surplus credits in 2028 (see chart) . This barely offsets its April spot price of $2,830/t VLSFO equivalent in northwest Europe. Bio-methanol would receive about $175/t in credits, offering minimal relief on its $2,318/t April spot price. Currently, unsubsidized northwest Europe bio-LNG sits mid-range among bunker fuel options under IMO's emissions framework. While more expensive than HSFO, grey LNG, and B30 bioblends, the bio-LNG is cheaper than B100 (pure used cooking oil methyl ester), green ammonia, and bio-methanol. To become cost-competitive with unsubsidized bio-LNG — priced at $1,185/t in April 2025 — green ammonia and bio-methanol prices would need to fall by 57pc and 49pc, respectively, to around $1,220/t VLSFOe and $1,180/t VLSFOe by 2028. Unless green fuel prices drop significantly or fossil fuel prices rise, the IMO's structure alone provides insufficient economic incentive to accelerate green ammonia and bio-methanol adoption at scale. By Stefka Wechsler NW Europe, fuel prices plus IMO penalties and credits Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Germany doubts suspended HVO producer exists


06/05/25
News
06/05/25

Germany doubts suspended HVO producer exists

London, 6 May (Argus) — German regulators have said a producer of hydrotreated vegetable oil (HVO) that has been using the country's Nabisy biomass registry may not exist. The federal office of agriculture and food (BLE) said an investigation begun in mid-April found that biofuels sustainability verification scheme ISCC withdrew the suspended user's certification on 8 January, excluding the operator from the scheme for 48 months because of "a lack of co-operation with the ISCC integrity programme". The BLE had suspended Nabisy access for the company, which had the ID EU-BM-13-SSt-10022652. The company was listed on its ISCC certificate as based in the UAE, and provided an address in Hong Kong for its audit, BLE said. Matching details provided by BLE with Argus research show the producer is likely to be EcoSolution, which said it was producing HVO from crude tall oil, used cooking oil (UCO) and spent bleaching earth oil. The company's audit was done by certification body Certi W Baltic on 5 September 2024, according to ISCC documentation. Argus could not locate a biofuels producer by the name of EcoSolution for comment. Argus asked Certi W Baltic and the ISCC for comment but did not receive responses by the time of publication. BLE said it was suspicious that the concerned producer booked all of its proof of sustainability (PoS) onto the Nabisy account of a supplier whose certification records show an address in the Netherlands. But that company's audit report shows the same Hong Kong address as EcoSolution. ISCC certification of the Dutch supplier remains active, but the BLE also has "considerable doubts" about that company's existence. ISCC audit records show AEY Trading received ISCC 'trader with storage' certification on the same day as EcoSolution, also from Certi W Baltic. Certi W's audit summary shows AEY received an on-site audit on 8 September from the same auditor as EcoSolution. Any PoS issued by the suspended producer, which had been temporarily frozen, have been unblocked and will remain valid based on the 'protection of confidence' principle laid out in the German biofuels sustainability ordinance, which protects buyers in the biofuels market. To delete affected PoS that have been sold to others, the BLE would need to prove the buyer was aware of any fraud in relation to the product purchased. In practice this is "almost impossible", according to German biofuels association VDB. "The protection of confidence principle has become a free pass for lack of due diligence and care," the association said. "Today, European biofuels market participants do not have to worry about any consequences if they buy cheap biofuels with dubious origin." VDB wants urgent reform of the corresponding part of legislation, to grant the BLE more power when it comes to revoking fraudulent sustainability paperwork. PoS that has been re-released into the market could comprise a large amount of HVO, possibly in the hundreds of thousands of tons, according to market participants. By Sophie Barthel and Simone Burgin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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