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Gunvor closes $540 million biodiesel loan

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By Erin Voegele

December 09, 2020

BusinessNorth AmericaEurope

The Gunvor Group on Dec. 4 announced it has successful closed a new available credit facility of $540 million to support the company's biodiesel trading. The credit facility is structured around the company's biofuel inventory positions.

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The U.S. exported 15,634.4 metric tons of biodiesel and biodiesel blends of greater than B30 in October, down from both 59,904 metric tons in September and 22,259.3 metric tons in October 2019, according to data released by the USDA on Dec. 4.

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The U.K. government on Nov. 18 issued its 10-point plan for a green industrial revolution, which addresses sustainable aviation fuels (SAF) and an accelerated phase-out of the sale of new gasoline- and diesel-fueled vehicles.

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The global biofuels industry has been strongly impacted by the COVID-19 pandemic, according to a report released by the International Energy Agency in early November, with production down approximately 11.6 percent when compared to 2019.

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For the first time, renewable raw materials are being converted to Swedish Environmental Class 1 diesel at Preem's refinery in Lysekil. The aim is to annually produce up to 950,000 cubic meters of renewable fuel by 2024.

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Neste has agreed to acquire Bunge Loders Croklaan's refinery plant located in Rotterdam, the Netherlands. The facility is connected to Neste's adjacent plant via pipeline and consists of a pretreatment facility, tank farm, and jetties.

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BDI-BioEnergy International GmbH has announced it will supply process technology to a multi waste- and residues-based biodiesel plant being developed by Cargill at its existing site in Ghent, Belgium.

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Biodiesel Magazine the leading publication for the biodiesel industry, recently released its 2021 media kits. Biodiesel Magazine is now accepting 2021 advertising schedules across its print and digital platforms.

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Neste released third quarter financial results on Oct. 22, reporting solid performance despite the COVID-149 pandemic. Demand for the company's renewable diesel remained good and sales volumes were relatively stable.

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Cargill is constructing a multi waste- and residues-based biodiesel plant at its existing integrated oilseeds crush and Bioro biodiesel site in Ghent, Belgium. The plant will use the latest technology from BDI-BioEnergy International GmbH.

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The U.K.'s consumption of transportation biofuels fell sharply during the second quarter of 2020 due primarily to the COVID-19 pandemic and associated lockdown measures that reduced travel, according to data released by the U.K. government on Oct. 8.

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Jobs in the renewable energy sector reached 11.5 million globally in 2019, according to a report released by the International Renewable Energy Agency (IRENA) on Sept. 29. Bioenergy accounted for 3.58 million jobs, up from 3.18 million in 2018.

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The European Union's countervailing duties against U.S. biodiesel were set to expire on Sept. 16. The European Commission decided on Sept. 14 to review the expiry of the measures, which means the existing duties will remain in place for now.

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Air bp, the international aviation fuel products and services supplier, has today delivered 210 metric tons of sustainable aviation fuel (SAF) to Swedish airport operator, Swedavia, at Stockholm Arlanda Airport (ARN/ESSA).

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Swedish Government announced on Sept. 11 its intention to introduce a greenhouse gas reduction mandate for aviation fuel. Norway made a similar announcement earlier this year. Gevo Inc. has welcomed both announcements.

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The U.K. consumed 645 million liters (170.39 million gallons) of transportation biofuels during the first quarter of 2020, up 53 percent when compared to the same period of 2019, according to data released by the U.K. government on Sept. 10.

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ExxonMobil has completed a successful sea trial of the company's first marine biofuel oil with shipping company Stena Bulk, bunkered in the port of Rotterdam. The marine biofuel oil is a 0.50 percent VLSFO processed with a waste-based FAME component.

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Doug Tiffany and Doug Durante, the respective winners of the International Fuel Ethanol Workshop & Expo's Award of Excellence and High-Octane Award, will deliver acceptance speeches at the virtual FEW on Sept. 16.

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A report recently filed with the USDA Foreign Agricultural Service's Global Agricultural Information Network provides insight into how the COVID-19 pandemic has impacted ethanol and biodiesel producers in Canada.

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Air BP and Neste have signed an agreement to offer an increased volume of sustainable aviation fuel to airport customers in 2020 and 2021. The volume is five times larger than that supplied by the businesses in 2019.

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U.K.-based Veloycs plc on Aug. 6 released final audited financial results for 2019, providing an update on company operations and its proposed waste-to-biofuel plants under development in Immingham, U.K., and Natchez, Mississippi.

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UFOP estimates German consumption of biodiesel and renewable diesel, or hydrotreated vegetable oil (HVO), will be approximately 780.5 million gallons for 2020, an increase of approximately 90 million gallons, or 13 percent, over 2019.

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Neste announced July 23 that its renewable products business set a new quarterly sales volume record during the second quarter of this year. Nameplate production capacity for renewable diesel also increased during the quarter.

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Due to COVID-19-related market impacts, consumption of biodiesel and renewable diesel is expected to fall by 6 percent or approximately 301 million gallons in 2020, but the combined production volume of both is expected to remain relatively stable.

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In 2019, the German biodiesel industry produced approximately 3.4 million tons (1.02 billion gallons) of biodiesel, of which about 1.9 million tons were based on rapeseed oil. Used cooking oil was the second-most used feedstock for German biodiesel.

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Nuseed Ltd. has executed a commercial offtake agreement with Saipol, the largest biodiesel producer in Europe, to supply Nuseed Carinata as a feedstock for certified low carbon oil for renewable fuels and high-protein, non-GMO meal.

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Neste delivered its first batch of sustainable aviation fuel to San Francisco International Airport via pipeline. Biodiesel Magazine speaks with Jeremy Baines, president of Neste U.S., about the U.S. market and the company's plans for growth.

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Used cooking oil (UCO) from McDonald's Netherlands will be turned into renewable diesel by Neste, and then the fuel will be used to power HAVI trucks that both collect UCO from and deliver goods to McDonald's restaurants in the Netherlands.

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Soybean production in the EU-27 continues to expand in 2020 due to significant increases in farmland planted with soybeans in key EU member states. Italy is by far the largest soybean-producing member state with 306,000 hectares planted this year.

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Neste launched a new research project to develop sustainable and globally scalable raw materials such as forestry or ag residues, MSW, algae and more, and technology solutions for transportation fuels and the production of chemicals and polymers.

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