Wednesday Edition

01.06.10

Global

BIODIESEL BOAT EARTHRACE CLASHES WITH JAPANESE VESSEL
The biodiesel powerboat, formally called Earthrace, has sunk following a clash with a Japanese security vessel after it tried to intercept Japanese whaling activities. The boat had recently joined a fleet of green campaigners, and was being used as a stealth boat to investigate Japanese whalers.


North America

ELEVEN STATES SIGN LCFS MOU
The governors of 11 Northeast and Mid-Atlantic states have signed a MOU to develop a regional LCFS, of which they plan to create a framework for the program by 2011 that will promote alternative fuels, reduce exposure to gasoline price spikes, foster energy independence and create new jobs.


QUEBEC IS FIRST PROVINCE TO ADOPT CALIFORNIA EMISSIONS STANDARD
Quebec will become the first province in Canada to adopt California's auto emissions standards when new rules that take effect on Jan. 14 impose increasingly limits on GHGs from vehicles made between 2010 and 2016. Emissions are expected to be cut by 35% by 2016, Reuters reports.


South America

BRAZIL SOYBEAN EXPORTS PLUMMET IN DECEMBER
Brazil's Foreign Trade Ministry stated this week that the country's soybean exports fell to 203k mt in Dec. 2009 from 750k mt in 2008. Brazil's soy exports plunged in Dec. after strong trade earlier this year led to low stocks, CME reports.

SOYBEAN HARVESTING KICKS OFF IN BRAZIL
Brazil's soybean farmers are starting to harvest their first 2009-10 beans and according to industry participants, conditions appear good. Many Brazilian soy farmers opted to plant their beans early this year with the hope of securing first-mover status and higher premiums.


BRAZIL EXPECTS TO SAVE BILLIONS WITH NEW BIODIESEL MANDATE
Brazil will save $1.4-billion/yr on diesel imports with its implementation of a 5% biodiesel blend that occurred on Jan. 1, according to the country's National Petroleum Agency. ANP said B5 will decrease CO2 emissions from diesel use by 3%, and reduce the particulate matter produced by the fuel, Argus reports.

GOAL TO CUT CO2 EMISSIONS ADOPTED BY BRAZIL
Brazil has announced a goal to cut carbon intensity by up to 38.9% by 2020, including reducing Amazonian deforestation by 80% by 2020. The government recently created the National Climate Change Fund that will use tax revenues from the oil industry to reduce emissions, Argus reports.

Europe

RAPESEED BIODIESEL DEMAND UP IN EU
Demand for biodiesel made from rapeseed is increasing as temperatures drop in Europe. Biodiesel’s premium to rapeseed oil widened for a second day to $114 a ton Wednesday, according to Starsupply. The premium rose to $113 on Dec. 31, a two-month high, Bloomberg reports.


Asia / Pacific

INDIANOIL TO PURCHASE LAND FOR BIODIESEL OIL SEEDS
IndianOil is in talks with the Indian government to buy 50k ha of wasteland in Uttar Pradesh to plant oilseeds, including Jatropha and Karanjia. The Union Cabinet last month approved a national biofuels policy to implement a 20% biodiesel blend by 2017, the Business Standard reports.

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