Norden agrees marine biodiesel deal with Meta

: Biofuels, Oil products
24/11/26

Danish shipping company Norden has agreed with tech giant Meta to utilise marine biodiesel blends on operated vessels.

The deal is based on Norden's book-and-claim, a system that can be used to deliver proof of sustainability (PoS) documentation to customers to offset the latter's scope 3 emissions and fulfil their voluntary demand. The PoS can be obtained on a mass-balance system, allowing shipowners flexibility with regards to the port at which a blend can be bunkered.

Norden did not specify which marine biodiesel blends it will use as part of this agreement, but said the biofuel will be ISCC-certified and will have an 80-90pc greenhouse gas (GHG) emissions reduction potential.

The agreement follows recent drops in Argus assessments for marine biodiesel blends comprising Advanced Fatty acid methyl ester (Fame) 0 in the ARA trading and refining hub.

By Hussein Al-Khalisy

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25/01/10

Mercosur-EU deal to open Brazil ethanol flows

Sao Paulo, 10 January (Argus) — A freshly inked EU-Mercosur trade agreement marks an important opportunity for Brazil's burgeoning ethanol market, but will likely not significantly impact the country's well established sugar trade. Announced in December, the landmark pact provides for the gradual exemption of tariffs on most exports from the four participating Mercosur countries to the 27 European countries that make up the EU. Goods considered sensitive, including sugar and ethanol, will be subject to a quota system with more limited benefits. Export quotas for specific products from each of the participating South American countries — founding members Argentina, Brazil, Paraguay and Uruguay — will be defined after the ratification of the agreement. For industrial ethanol originating in Mercosur and shipped to the EU, the agreement provides a maximum quota of 570,300 m³/yr (9,845 b/d), with tariffs gradually reduced to zero over the years. Non-industrial ethanol will have a quota of 253,400m³/yr, subject to a reduced tariff of €34-64/m³ ($34.82-65.55/m³), a third of current rates. The EU tariff on imported ethanol today ranges from €102/m³ for the denatured product — which includes chemical additives that make it unfit for consumption — to €192/m³ for the undenatured product. Quotas provided for in the agreement are more than enough to cover volumes Brazil exports to the EU. The South American country shipped 140,700 m³ of ethanol to countries in the European bloc in 2024, around 7pc of the 1.9mn m³ it exported in the year, according to trade ministry data. The terms of the agreement have caught the attention of market participants, who see an opportunity to revive trade flows to Europe, especially for industrial ethanol. EU countries soaked up around 30pc of Brazil's ethanol exports in 2022, but outflows have dropped significantly since. At the time, Brazil's ethanol gained a competitive edge during a period of rising energy prices in Europe amid the start of the Ukraine-Russia conflict and the aftershocks of the Covid-19 pandemic. The announcement of the agreement has put the EU back on the radar of Brazilian traders who stopped selling ethanol to Europe or those who are yet to enter the market. Slight impact for sugar The agreement is set to have less of an impact on Brazilian sugar exports, considering the approved quota and the volume normally exported to the EU. Mercosur will have a quota to send 180,000 metric tonnes (t)/yr of sugar to the European bloc with zero tariffs, while the excess volumes of raw sugar will face the current customs duty of €98/t. The tariff-free volume represents a small portion of the total sweetener normally shipped to the European bloc. Brazil's center-south — which includes the main producing states — alone exported 540,000t of sugar to the EU in January-November 2024, according to sugar and ethanol industry association Unica. Raw sugar accounted for around 87pc of that total. Shipments in 2024 were still below the 804,000 t/yr five-year average for Brazilian sugar exports to the EU. If volumes in the coming years remain close to historical levels, less than 25pc of the annual volume shipped from Brazil will benefit from the new import duties. The EU is expected to import 2.4mn t of sugar in the 2024-25 crop, which extends from October 2024 to September 2025. The volume makes the bloc the third largest importer in the world, only behind Indonesia and China, according to US Department of Agriculture data. The volume approved in the agreement with Mercosur would represent less than 5pc of the imports expected by the EU, which limits the potential competitiveness of Brazilian sugar in the European market. Negotiations on terms of the Mercosur-EU agreement have been concluded, but the pact will only enter into force after final signing and subsequent ratification. By Maria Lígia Barros and Maria Albuquerque Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Union, US ports reach tentative deal: Update

25/01/09

Union, US ports reach tentative deal: Update

Adds comments from White House, retail industry. New York, 9 January (Argus) — Unionized port workers and operators of US east and Gulf coast ports and terminals have reached a tentative agreement on a new work contract, averting a strike that would have started next week. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) said the new six-year contract still needs to be reviewed and approved by members of both sides before it will be ratified. They have agreed to continue to operate under the current contract until the agreement is finalized. "This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports — making them safer and more efficient and creating the capacity they need to keep our supply chains strong," the ILA and USMX said in a joint statement. US president Joe Biden praised the deal, saying it shows both sides can settle their differences to benefit workers and their employers. "I applaud the dockworkers' union for delivering a strong contract," Biden said. "Their members kept our ports open during the pandemic, as we worked together to unsnarl global supply chains." The National Retail Federation (NRF) also lauded the deal after the group signed a letter last month urging the parties to resume negotiations. "Providing certainty with a new contract and avoiding further disruptions is paramount to ensure retail goods arrive in a timely manner for consumers," said Jonathan Gold, the NRF's vice president of supply chain and customs policy. Details of the agreement will not be released until after members have had time review and approve the deal, ILA and USMX said. The current contract was set to expire on 15 January after the parties struck a temporary agreement to end a three-day port strike in October 2024 . By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Damaged Iver bitumen tanker set to return end-Jan

25/01/09

Damaged Iver bitumen tanker set to return end-Jan

London, 9 January (Argus) — A bitumen tanker damaged after a collision with a bulker five months ago is set to finish lengthy repair work by 23 January, and be back with its time charterer TotalEnergies at the firm's Donges refinery and export terminal on the French Atlantic coast on 26 January. The 6,189dwt Iver Blessing — part of Dutch Vroon Group's Iver Ships unit — was under time charter with TotalEnergies and was offshore the French Atlantic port of Nazaire when the accident that caused serious damage to the bitumen tanker happened. The vessel was en route to the company's 219,000 b/d Donges refinery to load its next bitumen export cargo in August 2024. The tanker has since undergone repairs at a shipyard in Flushing, Netherlands, that had been due to last 1-2 months, but there have been repeated delays, including difficulties in obtaining replacement parts. TotalEnergies is a key player in northwest European and Nordic bitumen cargo markets, and the prolonged repair work forced it to seek spot or other short-term tanker charters, mainly with Iver Ships, to maintain its shipping programme. By Fenella Rhodes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Viewpoint: Trump tariffs could affect US asphalt supply

25/01/09

Viewpoint: Trump tariffs could affect US asphalt supply

Houston, 9 January (Argus) — US president-elect Donald Trump's threat to impose tariffs on Canadian goods could restrict asphalt supply and lift prices for US buyers this year. Trump announced plans to put a 25pc tariff on all imports from Canada and Mexico after he takes office on 20 January. Asphalt market participants said a potential tariff on Canadian imports could just be a "bargaining chip," and the Canadian Association of Petroleum Producers noted the tariff would push energy costs higher for American consumers. But Trump doubled-down on his threat on 7 January, insisting "we are not treated well" by Canda. If he sticks to his plan , market participants fear asphalt prices could "go through the roof." Kpler data show about 73pc of US Atlantic coast waterborne asphalt imports originated in Canada in 2024. The US east coast is net short asphalt, with just one domestic producer — independent refiner PBF Energy. PBF shut a crude distillation unit in late October because of poor refining economics. East coast waterborne imports of Canadian asphalt reached their highest level in June 2024, according to Kpler data going back to 2017. This helped push cif New York prices down by $95/st from June to early October, an unusual trend for the summer and early autumn. Railed asphalt volumes could also be affected, with monthly US imports of Canadian railed asphalt totaling 5.23 mn bl through the first 10 months of 2024, US Energy Information Administration (EIA) data show. A potential trade war and possible labor disputes could also cut into asphalt volumes. US importers could turn to other supply sources, but some supply uncertainty stretches across the Atlantic with multiple refinery shutdowns in the Mediterranean expected in 2025. This comes, however, alongside weaker asphalt demand . Rising asphalt flows from Venezuela could also help moderate affects from potential US tariffs. But market participants are more cautious of Venezuelan supply and the potential return of sanctions under Trump . The planned restart of an asphalt unit at Curacao's idled 335,000 b/d Isla refinery this year could also slightly temper a potential supply shock. Feedstocks uncertain Trump's tariffs could also alter heavy crude flows and reduce US asphalt production. Canada is the top supplier of crude to the US and accounts for 65pc of all crude runs in the midcontinent. Monthly PADD 2 imports of Canadian crude oil totaled about 863mn bl in January-October 2024, up by 8pc compared with the same period last year, according to EIA. Meanwhile, asphalt production in the region rose by about 7pc over the same period. Potential tariffs could divert Canadian crude from the US to Asia-Pacific via the Trans Mountain Expansion pipeline and boost heavy crude costs for US refiners. Further south, potential tariffs on Mexican imports could also hit asphalt production. Mexico is the second-largest supplier of crude to the US and produces a heavy grade with most volumes landing on the US Gulf coast. By Cobin Eggers Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Union, US ports reach tentative deal to avert strike

25/01/09

Union, US ports reach tentative deal to avert strike

New York, 9 January (Argus) — Unionized port workers and operators of US east and Gulf coast ports and terminals have reached a tentative agreement on a new work contract, averting a strike that would have started next week. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) said the new six-year contract still needs to be reviewed and approved by members of both sides before it will be ratified. They have agreed to continue to operate under the current contract until the agreement is finalized. "This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports — making them safer and more efficient and creating the capacity they need to keep our supply chains strong," the ILA and USMX said in a joint statement. Details of the agreement will not be released until after members have had time review and approve the deal, ILA and USMX said. The current contract was set to expire on 15 January after the parties struck a temporary agreement to end a three-day port strike in October 2024 . By Luis Gronda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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