Fate of Argentine Biodiesel Industry Hinges on EU Sanctions
Argentina's biodiesel industry is at risk after the European Union threatened to impose tariffs on imports from the South American country, following accusations that the nation unfairly subsidized its biofuel sector. The threat of tariffs has halted Argentine biofuel sales to the EU…
U.S. Managing Director of Trader AOT Energy Departs
Lance Perdue, managing director for energy commodities trader AOT Energy Americas in Houston, has left, three sources familiar with the matter said on Friday. It was not immediately clear where he was going. Swiss-based AOT Energy did not immediately respond to a request for comment.
Argentine Biodiesel Industry: U.S. Duties Will Halt Exports
Argentine biodiesel exports will be priced out of the U.S. market, its leading industry body said, after Washington decided on Tuesday to impose steep duties on imports that it said were unfairly subsidized. The countervailing duties on soy-based Argentina biodiesel could be as much as 64.17 percent, according to a statement from the U.S.
Cargill Finalizes Sale of Oil Unit to Macquarie
Commodity trader Cargill Inc completed the sale of its petroleum business to Australian investment bank Macquarie Group Ltd on June 30, a company spokeswoman told Reuters on Friday. The company will continue to offer financial and price risk management in petroleum markets through its Risk Management business, she said in an email reply.
Top Trading Houses Weigh in at Commodities Conference
Top executives from the world's largest commodity trading houses discuss trends in trading at the FT Commodities Global Summit in Lausanne, Switzerland, this week. "Trade policies coupled with foreign aid and sound development policy is critical. "We all have to make the case for free trade…
TrailStone buys Cargill's power, gas group
Commodities trader and investor TrailStone Group has purchased Cargill Inc's gas and power trading group, three sources familiar with the deal said this week. The move, first reported by Sparkspread, comes amid a reshuffling in the power and natural gas industry as private equity firms and hedge funds pour into the space…
Cargill Reports Net Profit on Special Gains; Revenue Declines
Global commodities trader Cargill Inc on Wednesday posted a quarterly net profit because of special gains, and its revenue dropped. The privately held company reported net income of $15 million for the fourth quarter ended May 31, compared with a net loss of $51 million a year earlier.
New Investments Signal Turnaround in Brazil Ethanol Industry
Improved returns from sales at home and abroad are unleashing the first major flurry of investment in Brazil's struggling ethanol industry in nearly a decade, with at least nine companies expanding or building new capacity. Medium-sized private mill Rio Verde said it would…
EU Extends Import Duties on U.S. Biodiesel to 2020
The European Union is extending anti-dumping and anti-subsidy duties imposed on U.S. biodiesel imports for a further five years, until September 2020, maintaining its defence against trade in the renewable fuel source. The bloc set the duties in 2009 on a number of U.S. producers of biodiesel…
EU Extends Import Duties on U.S. Biodiesel to 2020
The European Union is extending anti-dumping and anti-subsidy duties imposed on U.S. biodiesel imports for a further five years, until September 2020, maintaining its defence against trade in the renewable fuel source. The bloc set the duties in 2009 on a number of U.S. producers of biodiesel…
Andy Hall's Fund Plunges $500 mln
Renowned oil trader Andy Hall suffered his second-biggest monthly loss ever in July in a "brutal month" that left his hedge fund about $500 million poorer, telling investors he failed to anticipate a sudden market shift that roiled crude. Hall's Astenbeck Capital Management in Southport…
'Fantasy Fuel': Novozymes Looks to the Future
When Denmark's Novozymes first wondered in 2000 how its mass-produced enzymes could be used to make advanced biofuel, the industry did not exist and only now is the fruit of its labour emerging after years of being lampooned as a "fantasy fuel". But as commercial production…
Copersucar's Net Profit Nearly Doubles
Net profit at Brazil's Copersucar SA, the world's largest sugar and ethanol trader, nearly doubled in the financial year ended on March 31 despite losses related to a fire that destroyed its Santos export terminal. The company reported a net profit of 157.7 million reais ($70 million) for fiscal 2013/14…
Tax Cuts Spurring Argentine Biodiesel Exports this Year
Argentine biodiesel exports are set to rise 30 percent this year thanks to recent tax cuts that should help Latin America's No.3 economy regain its position as the world's top supplier of the fuel, local producers said on Friday. Claudio Molina, head of the Argentine Biofuels Association…
Miners Lock in Shipping Costs as Freight Market Recovers
Global miners and commodity traders are using multiple strategies to lock in favourable rates for shipping costs, anticipating a freight market recovery after years of turmoil. Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into crisis.
Rail Capacity Crisis Benefited Trucking
As a polar vortex snarled North America's railroads and upended freight flows this winter, everyone from agricultural giant Cargill to Dow Chemical rushed to secure the next-best form of hauling goods: trucks. In what trucking executives described as an unprecedented bidding frenzy…
Payment Problems Disrupting Iran Food Deals
Payment problems are disrupting commercial food cargoes to Iran, with hundreds of thousands of tonnes of grain and sugar stuck in transit, as Western banking sanctions complicate deals and trade financiers scale back exposure. Iran is not barred from buying food or other "humanitarian"…
Europe Gasoline Stronger, Exports Brisk
Gasoline barge prices in northwest Europe rose on Friday, boosted by brisk cargo exports as demand builds ahead of the peak summer driving season. "Things are perking up," said one trader. "Big slugs of reformate are heading to Asia again. There is good demand in the east still. West Africa blends are still taking place...
