China's GoldWind offers first biomethanol spot cargo

Spanish Market: Biofuels, Hydrogen
19/02/25

Major Chinese private-sector wind turbine supplier GoldWind has started offering biomethanol spot cargoes, it announced today at the Argus Green Marine Fuels Conference.

The producer is currently offering a spot price of $820/t dob northeast Asia for its biomethanol, GoldWind vice president Chen Shi said at the conference, held in Singapore from 18-19 February.

GoldWind is offering a total of around 120,000t of biomethanol with 70pc greenhouse gas (GHG) savings for bunkering from the fourth quarter of 2025 to the second quarter of 2026.

The company plans to start up its first biomethanol unit with 250,000t/yr capacity in Xinganmeng, Inner Mongolia, by the end of 2025. The plant will feed on wind power-based green hydrogen and corn straw-based biomass. GoldWind aims to start up its second 250,000 t/yr biomethanol unit in late 2026.

GoldWind signed a long-term offtake agreement with Danish shipping and logistics firm Maersk in November 2023 to supply 250,000t/yr of biomethanol once it achieves full operations, likely from 2027 onwards.

The company secured a second long-term offtake agreement in November 2024 with rival container liner Hapag-Lloyd, also to supply 250,000t/yr of biomethanol from 2027 onwards.

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13/03/25

Açúcar: Mudança tributária abre espaço diplomático

Sao Paulo, 13 March (Argus) — A isenção das importações de açúcar no Brasil é avaliada como uma tentativa de demonstrar aos Estados Unidos disposição em realizar acordos comerciais com o país, após o governo norte-americano sinalizar a possibilidade de aumentar as tarifas sobre alguns produtos brasileiros . Ao retirar as tarifas sobre o açúcar, o Brasil abre espaço para negociar a possibilidade de manutenção das tarifas de etanol, de acordo com Renato Cunha, presidente da Associação dos Produtores de Açúcar, Etanol e Bioenergia das regiões Norte e Nordeste (NovaBio). Etanol e açúcar são mercados correlatos no Brasil e as negociações dos dois costumam estar interligadas. Ambos são derivados da cana-de-açúcar e a produção de um produto ocorre em detrimento do outro. O governo brasileiro anunciou em 6 de março a eliminação dos impostos para importações de itens considerados essenciais, como o açúcar, milho, azeite, café e óleo de soja, com o intuito de reduzir os preços dos alimentos, em meio à aceleração da inflação. No caso do açúcar, o efeito sobre a inflação tende a ser limitado. O Brasil – maior produtor e exportador mundial de açúcar – é autossuficiente na produção do adoçante e as importações representam volumes mínimos no mercado. O Brasil exportou cerca de 33,5 milhões de t em 2024, alta de 23,8pc em comparação com 2023, a partir de uma produção de 42,4 milhões de t na safra 2023-24, de acordo com a Unica. Vantagens competitivas do açúcar brasileiro Mesmo que a isenção de tarifas para importar açúcar – que antes eram de até 14pc – facilite a abertura de novos mercados e crie eventuais oportunidades para os consumidores brasileiros, o produto nacional ainda é mais barato, pelos custos de produção mais baixos em relação a outros países. Os custos para produzir açúcar no Brasil são de aproximadamente 15¢/lb (equivalente a R$1,92/kg), enquanto na Tailândia – segundo maior exportador de açúcar – eles estão próximos de 21,5¢/lb, segundo participantes de mercado. Na Índia e Austrália, terceiro e quarto maiores exportadores, os custos são de aproximadamente 22,4¢/lb e 18,3¢/lb, respectivamente. Para que haja uma redução efetiva dos preços do açúcar, é necessária uma revisão nos custos de toda a cadeia produtiva até as gôndolas do mercado, disse José Guilherme Nogueira, presidente da Organização de Associações de Produtores de Cana do Brasil (Orplana). Para Nogueira, é importante se atentar a fatores além da produção, como custos de frete e seguro, áreas passíveis de atuação do governo. Como a produção é suficiente para o consumo nacional e há um grande volume excedente, o açúcar brasileiro acaba sendo majoritariamente exportado, sem o mercado externo representar efetivamente uma concorrência para o consumidor brasileiro. O preço do açúcar cristal branco registrou uma média de R$155,3/ saca de 50kg em janeiro - ou $24,9/sc na paridade de exportação, com a cotação média do dólar norte-americano a R$6,02 – segundo o indicador do Centro de Estudos Avançados em Economia Aplicada (CEPEA/Esalq). Em janeiro de 2024, os preços no mercado nacional estavam R$145,04/sc, em média, e $29,5/sc, considerando uma taxa cambial média de R$4,91. Isso mostra que mesmo com o dólar mais alto neste ano, o mercado doméstico de açúcar segue remunerando mais que o mercado externo, em comparação com o mesmo período no ano passado. Por Maria Albuquerque Envie comentários e solicite mais informações em feedback@argusmedia.com Copyright © 2025. Argus Media group . Todos os direitos reservados.

H2 sector wary as EU nears low-carbon rules: Correction

12/03/25

H2 sector wary as EU nears low-carbon rules: Correction

Corrects paragraph 7 to clarify that Hydrogen Europe's requests refer to CO2 intensity of upstream natural gas supply rather than fugitive methane emissions London, 12 March (Argus) — As the European Commission edges closer to publishing its long-awaited low-carbon hydrogen regulation expected this month, there is much at stake for prospective producers within the bloc but also potential overseas suppliers, according to industry association Hydrogen Europe. The European Commission said in its Clean Industrial Deal from late February that it intends to adopt a delegated act defining low-carbon hydrogen this quarter , following publication of a draft last summer and subsequent consultation with stakeholders. The EU has already set a CO2 emissions threshold of 3.38kg of CO2 equivalent for low-carbon hydrogen, but the delegated act will settle the details for a range of production pathways that do not fall under the EU's already-adopted definition of renewable fuels of non-biological origin (RFNBOs). These include electrolysis from non-renewable power such as nuclear or waste incineration, gas reforming with carbon capture, and methane pyrolysis. Hydrogen Europe is hoping that the adopted text — which would then require approval from the European Parliament and member states — will entail some changes it says are key to unlocking nuclear-powered hydrogen and to ensure a fair reflection of emissions from gas-based production. The association has urged the commission to allow companies buying nuclear power via power purchase agreements to factor this into their emissions calculations rather than having to use a default number that stems from the CO2 intensity of the respective country's grid. This is the only way that grid-connected projects could move ahead in countries with low renewables penetration and otherwise large swathes of production could potentially be ruled out, industry participants have said. The industry body has also stressed that the EU should let gas-based hydrogen producers use project-specific figures for the CO2 intensity of their upstream natural gas supply rather than a blanket number irrespective of the location. Project-specific figures will be used for upstream methane emissions from 2028 under a separate methane regulation, which could potentially advantage Norwegian producers with typically lower upstream emissions over producers in the Middle East and parts of the US. Hydrogen Europe's chief executive Jorgo Chatzimarkakis said the sector "desperately needs legal certainty" and complained that missing deadlines has "become standard rather than an exception" for the commission. Other industry participants have previously made similar arguments around emissions calculations for nuclear power and for upstream methane emissions and many have stressed the need for certainty around the definition. The rules are crucial because low-carbon hydrogen will be needed "in the market ramp-up phase" as "renewable hydrogen is not yet available in sufficient quantities or at sufficiently affordable prices," Chatzimarkakis said. Moreover, many renewable hydrogen projects will probably have to pivot their electrolysers to make low-carbon hydrogen in spare hours to shore up their business case. Curbing low-carbon hydrogen volumes with tight rules inadvertently weakens the case for investment in midstream infrastructure that is essential in the long term, Chatzimarkakis said. This debate on measuring the emissions of hydrogen production is the latest in a slew of painstaking procedures globally, as rule makers have tried to enshrine best practices without overly regulating the nascent industry. The EU took around two years to define renewable hydrogen and the process was hardly quicker in the US. The previous US administration of president Joe Biden clarified rules for its 45V hydrogen production tax credits in early January. It listened to pleas from producers and will allow them to use project-specific emissions calculations that might give the EU food for thought — although the future of the clean energy incentives including 45V is unclear following the return of Donald Trump to the White House in January . By Aidan Lea Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Northwest European renewable fuel ticket prices rise

12/03/25

Northwest European renewable fuel ticket prices rise

London, 12 March (Argus) — The price of renewable fuel tickets in the UK and the Netherlands has firmed in recent trading sessions, but tickets remain a more competitive option to comply with domestic renewable fuel mandates than physical biofuels blending. Tickets are tradeable credits primarily generated by the sale of biofuel-blended fuels and are used to help obligated parties meet mandates for the use of renewable energy in transport. In the Netherlands, "other" and advanced renewable fuel units (HBE-Os and HBE-Gs) hit a more than three-week high of €11.10/GJ on 6 March, while in the UK, non-crop renewable transport fuel certificates (RTFCs) reached 26.25 pence/RTFC on 5 March, the highest level since 29 January. Despite the increase, RTFCs are at a discount to the like-for-like blend value of used cooking oil methyl esther (Ucome) biodiesel and hydrotreated vegetable oil (HVO) Class II ( see graph ). And in the Netherlands, HBE-Gs remain well below the like-for-like blend value of palm oil mill effluent (Pome) oil-based HVO (Class IV). This typically discourages obligated parties to physically blend biofuels. Biodiesel and HVO prices increased on higher feedstock costs, market participants said. The premiums of HVO Class II and IV against the HVO-escalated 7-28 day Ice gasoil price reached $800/m³ and $785/m³, respectively, on 7 March, the highest since 12 February. Meanwhile, the Argus Ucome biodiesel fob ARA price rose to $1,453.24/t on 4 March, its highest since 3 December. And last week, the Argus UCO fob ARA assessment hit its highest level since October 2022, driven by low supply in the ARA region and a stronger euro against the US dollar. A closed arbitrage with China, Europe's biggest importer of UCO, is putting further pressure on supply in the region, market participants said. UCO trade flows shifted away from Europe last year as significant amounts of Chinese product moved to the US at the expense of flows elsewhere. But there may be some relief for European buyers in 2025 as US buyers wait for clarity on the Inflation Reduction Act's carbon intensity-based 45Z credit. President Donald Trump's doubling of pre-existing tariffs on Chinese imports to the US to 20pc is yet to have an impact on the European market, although participants said it could put a ceiling on further price gains. SAF blending pressures HBE-IXBs HBE-IXB tickets — generated by blending biofuels made from feedstocks listed in Annex IX part B of the EU's Renewable Energy Directive — have been moving in the opposite direction. The Argus Netherlands HBE-IXB price softened to its lowest since October last year on 13 February, at €9.50/GJ (see graph) . It has since risen slightly, reaching €9.75/GJ on 11 March. The tickets are under pressure from stronger supply as some are being offered by sustainable aviation fuel (SAF) blenders, market participants said. Biofuels in aviation benefit from a 1.2x multiplier, in addition to the double counting rule for waste feedstocks. An EU-wide SAF mandate — ReFuelEU — came into effect on 1 January, replacing national obligations. Under the mandate, fuel suppliers will need to include 2pc SAF in their jet fuel deliveries in 2025, rising to 6pc in 2030. UCO-based hydrotreated esters and fatty acids synthesised paraffinic kerosine (HEFA-SPK) is the most common type of SAF available today. In the Netherlands, blending HEFA-SPK SAF into jet fuel can generate HBE-IXBs. But the Dutch ministry of infrastructure is consulting on its second draft to transpose the recast RED III . If the current draft is implemented, the Netherlands will introduce greenhouse gas (GHG) emissions reduction mandates from 2026 for land, inland shipping and maritime shipping. The first draft also included an aviation subcategory, but it was removed in February . GHG-quota by blending less lucrative in Germany The increase in biodiesel and HVO prices in the ARA region has not had an impact on German GHG certificates. Buying GHG certificates remains more cost effective than physical blending for fuel suppliers. But market participants anticipate prices rising from the end of March, which could reverse this trend. Overall blending in Germany is expected to increase this year to generate new GHG tickets, after carry-over was frozen, forcing producers to build their GHG balance from scratch in order to fulfil their 2025 quotas. Many market participants remain focused on their 2024 balance for now, and demand for advanced biofuels and HVO in Germany has been slow so far this year. By Evelina Lungu Ucome and HVO Class II versus RTFCs p/litre Advanced FAME 0 versus German €/t CO2e Ucome and HVO Class II versus HBE-IXB €/GJ HVO Class IV versus HBE-G €/GJ Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil refinery to produce fuel from eucalypt

11/03/25

Brazil refinery to produce fuel from eucalypt

Sao Paulo, 11 March (Argus) — Petrobras-controlled Riograndense refinery successfully conclude tests to produce fuels from eucalyptus biomass in Brazil's southern Rio Grande do Sul state. The refinery used a bio-oil from eucalyptus biomass and converted it in fractions of fuel gas, LPG, components to produce gasoline and marine fuel with renewable content and others. The bio-oil came from industrial company Vallourec's forest unit in southeastern Minas Gerais state. The test reveals the possibility of using wood and other forestry residues as feedstocks for products usually coming from a fossil origin, said Petrobras's technology, engineer and innovation director Renata Baruzzi. Petrobras intends to transform Riograndense refinery into the first oil plant to produce 100pc renewable fuels in the world, according to Petrobras' chief executive Magda Chambriard. The efforts are part of Petrobras' BioRefino program, which will invest almost $1.5bn to generate sustainable fuels as of 2029. Riograndense refinery is also controlled by Brazilian companies Ultra Group and Braskem petrochemical. By Maria Albuquerque Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU consults on decarbonisation, clean tech aid

11/03/25

EU consults on decarbonisation, clean tech aid

Brussels, 11 March (Argus) — The European Commission has opened a consultation on updates to its state aid rules, which aim to take into account the bloc's proposed clean industrial deal — designed to simplify and speed decarbonisation. The commission is aiming to publish the rules in June, following input from EU states. The updated state aid rules would then apply to how the commission decides on EU states' financing of projects up until the end of 2030. The draft provides for member states' simplified tender procedures for renewables and energy storage. The commission specifically notes the possibility of granting aid without tender for less mature technologies, such as renewable hydrogen. There would also be more flexibility for EU states aiding industrial decarbonisation, with a choice of tender-based schemes, direct support and new limits for very large projects. The commission lists batteries, solar panels, wind turbines, heat-pumps, electrolysers and carbon capture usage and storage among clean technologies that can be supported, as well as their key components and critical raw materials. Officials note the possibility of EU countries de-risking private investment. The rules, when adopted, would also allow for investment in storage for renewable fuels of non-biological origin (RFNBOs), biofuels, bioliquids, biogas, biomethane, and biomass fuels as long as they obtain at least 75pc of their content from a directly connected and related production facility. Aid can only be granted for biofuels, biogas, and biomass fuel production if compliant with the bloc's renewables directive. While the rules for biofuels are not new, they do reflect the wider scope of aid now foreseen by the commission. And officials say the rules allow for projects in the EU to receive aid from a member state if a comparably project would receive aid in a third country. The commission released its proposed clean industrial deal in late February . The deal targets a simplification of rules, to allow EU member states to aid industrial decarbonisation, renewables rollout, clean tech manufacturing and de-risking private investments. Today's consultation runs until 25 April. 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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