May 6, 2016
BY Ron Kotrba
Global financial information services provider Markit announced May 6 it has acquired an interest in commodity markets research and price reporting agency Prima Markets, a U.K.-based company whose focus since its inception in 2014 has been on the interface between biofuels, energy and agricultural markets.
“Commodities producers, traders and consumers are demanding greater transparency in commodity benchmarks and more accountability from benchmark publishers,” said Nathan Amery, head of commodities at Markit. “Utilizing our deep benchmark expertise, Markit will help ensure that Prima is ideally positioned to provide an alternative to traditional oil and agricultural pricing resources.”
According to Markit, Prima’s price assessment service provides impartial benchmarks for global niche markets in renewable commodities. Prima has developed a proprietary pricing software—Prima Discovery—to eliminate methodological flaws that can distort price assessments away from unbiased fair value, the company said.
“Commodities trading participants are eager for change and renewal in benchmarking and research activities,” said Matthew Stone, Prima’s managing director. “We see this partnership as a tremendous opportunity to increase our pace and scope of growth across the commodities spectrum.”
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Although Markit just made the announcement May 6, Prima’s staff had been working out of Markit’s offices in London, Singapore and Chicago since the beginning of the year, covering a wide range international renewables and other markets.
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BWC Terminals on April 22 celebrated the official completion of its expanded renewable fuels terminal at the Port of Stockton. The facility is designed to safely and efficiently transfer renewable diesel and biodiesel from marine vessels.
Repsol and Bunge on April 25 announced plans to incorporate the use of camelina and safflower feedstocks in the production of renewable fuels, including renewable diesel and sustainable aviation fuel (SAF).
Renewable Fuels Month highlights the importance of renewable biofuels, such as ethanol and biodiesel. The month of May marks the beginning of the summer driving season, making it an ideal time to fuel up on clean and cost-saving biofuels.
PBF Energy on May 1 announced that its St. Bernard Renewables facility produced approximately 10,000 barrels per day of renewable diesel during Q1, down from 17,000 barrels per day during the Q4 2024.
Germany-based Mabanaft on April 17 announced it started to supply SAF to airlines at Frankfurt Airport in January. The company said it will deliver more than 1,000 metric tons of SAF to the airport this year under the European SAF mandate.