World News
UK to Investigate HVO Imports from US Amid Fair Trade Concerns
The UK’s Trade Remedies Authority (TRA) has launched an anti-dumping and countervailing investigation into imports of hydrotreated vegetable oil (HVO) biodiesel from the US, following complaints from domestic producers.
The move is to determine whether HVO imported from the US is being sold at artificially low prices or benefiting from government subsidies, potentially distorting competition in the UK market, the UK government said in a statement on its website on Monday.
The investigation comes after UK biodiesel producers argued that the competitive landscape has shifted since the last review in 2022.
Previously, HVO was considered separate from other biodiesel products, but new evidence suggests that price gaps have narrowed, leading to direct competition between imported HVO and UK-produced biodiesel.
The probe will cover the period between 1 January 2024 and 31 December 2024, examining pricing trends, production costs, and potential government support for US producers.
HVO-based biofuel blends are not as widely used as UCOME or FAME-based biofuel blends.
However, Ship & Bunker has seen that HVO-based marine biofuel blends have been supplied as bunker fuel in several European markets, including Portugal and Scandinavian countries such as Sweden.
The TRA has invited stakeholders to submit evidence through its public file as it assesses whether trade measures are needed.
If the investigation confirms unfair practices, the UK could impose new tariffs on HVO imports, a move that may strain trade relations between the UK and the US.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 518.50 | 5.00 | 648.00 | 3.00 |
| Rotterdam | 497.00 | 0.00 | 631.00 | 1.50 |
| Houston | 531.50 | 7.00 | 675.50 | 9.50 |
| Fujairah | 514.00 | 3.00 | 744.00 | 1.00 |
| Global 20 Ports Average | 553.00 | 1.50 | 746.00 | 2.50 |
| Global 4 Ports Average | 515.50 | 4.00 | 674.50 | 3.50 |
| Global Average Bunker Price | 596.50 | 0.00 | 778.50 | 2.00 |
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