World News
European Commission Plans Anti-Dumping Measures on Chinese Biofuel
The European Commission is planning to impose anti-dumping measures on biofuel imports from China.
The commission plans to impose tariffs of up to 36.4% on biodiesel imports from China, NGO Transport & Environment said in an emailed statement on Friday.
Concerns have been expressed over cheap biofuels from China arriving in Europe in large quantities over the past two years, with some of the imports thought to be derived from palm oil.
The EU currently imports more than 80% of its used cooking oil, and China provides 60% of these imports.
"Europe is completely over-reliant on unverifiable used cooking oil from distant countries, like China," Cian Delaney, a biofuels campaigner at T&E, said in the statement.
"Restrictions on imports from China are a step in the right direction, however, anti-dumping tariffs alone won't be enough to tackle UCO fraud.
"Without a complete overhaul of the certification process, the EU will continue to play out a game of whack-a-mole as fraudsters from other countries will simply fill the gap."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 627.50 | 3.00 | 643.50 | 2.00 |
| Rotterdam | 530.50 | 3.00 | 636.50 | 3.50 |
| Houston | 526.00 | 0.00 | 665.00 | 0.50 |
| Fujairah | 608.50 | 8.00 | 778.50 | 2.00 |
| Global 20 Ports Average | 612.50 | 3.50 | 746.50 | 1.00 |
| Global 4 Ports Average | 573.00 | 5.00 | 681.00 | 3.00 |
| Global Average Bunker Price | 657.00 | 4.00 | 827.50 | 2.50 |
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