Your Biofuels Supplier

Solfuels is here to assist you with your Biofuels requirements. We have an in-depth knowledge of the biofuels industry and particularly Biodiesel across geographies and feedstocks. We also undertake production agreements to satisfy the needs of our customers and for this purpose can guarantee continuous flows of our products. We differentiate ourselves from other traders by providing our customers and partners a high level of service, transparency and a global scope. This includes intelligence on Biofuels movement worldwide, risk management strategies and regulatory insights.

 

 

 

 

 

 

 

 

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Wed 19Sep2018: Gasoil tracks higher to $688 while Brent makes a high of $79 today and EIA showing a draw in crude inventories & gasoline while distillate stocks higher – I guess Heat crack should take a hit but remains at $23.06/brl. In US Biodiesel RINs took a dive down to 39cpg following BOHO and BOGO drop as record large oilseeds harvest in US continues to pressure vegoil. Bean crushers in US still enjoying $1.50/bushels of margin ( $55/MT). Logistics this harvest are going to be complicated as westward rail will not be able to load beans to go to China – watch this impact later in season as storage will become critical. Palm also dropped in another sanguine session taking Dec POGO to -$147.25. Meanwhile in EU fame and RME premiums were higher by $5/mt bucking trend as biodiesel tightness in the spot continues to keep RME/FAME premium at $130/mt for Q4 – stronger Euro helping. News on the China talks simply not good at this moment and NAFTA negotiations with Canada also not going well. Nevertheless Emerging markets all experienced a recovery in their currencies – I think short lived especially if Brent breaks on the higher side.

Tue 18Sep2018: Gasoil bounces up to $687.50 despite API showing a build in crude and distillate with backwardation to Dec widening a bit to $2.75/MT. HO was all over the place today but still marginally higher. RINs for Biodiesel ended up trading at 40.5cpg with good margins at producer level as demand for both diesel and biodiesel remains strong. Not much has changed in both FAME and RME today in EU despite BOGO being weaker after Palm collapsed following US trade issues with China leading POGO to -$136.75 for Dec. Meanwhile emerging markets show a bit a life with INR a bit stronger at 72.78 while CNH ending up at 6.85.

Mon 17Sep2018: Gasoil fails and drops to $677.50 while backwardation to Dec comes down to $2.75/mt as damage report from weekend storms fail to cause a rally. Heating oil contango builds through H19 as Heat Crack margin does not fail much closing at $23.85/brl. RINs start the week on the low side of 40.5cpg despite BOHO bouncing higher. EU market for Biodiesel trying to find a footing with RME premium very strong in the spot at +310 while Q4 shows +285. FAME is still showing a strong spot premium at +195. On Oct 1, all markets switch to winter spec biodiesel through Apr 1. In Emerging markets turbulence remain with INR reaching 72.9 today while China continues with creeping daily devaluation of CNH @ 6.87 today.

Frid 14Sep2018: Gasoil breaks further to $685/mt while backwardation to Dec narrows again as world awaits landfall of a powerful typhoon in SEAsia and a Hurricane on the US East Coast. Heat crack in US remains just below $25/brl which is exceptional for refiners in US and correspondingly we are seeing a contango build in Heating Oil futures. RINs in US dropped a bit to 41.5cpg following Dec BOGO which is now $-66.59/mt while POGO actually bounced a bit higher to -$118 on strengthening palm oil but probably short lived. FAME in EU dropped a bit but we should see similar weakness in line with BOGO but it is RME that has dropped the most in the last 24hrs as spread narrowed in the spot showing +115 over FAME while Q4 spread remains at +130 over FAME. Important to note that through Q2 2019 FAME premiums are in contango while RME is backwarded. After turbulent week, Indian Rupee stabilises @72.18 while China CNH unchanged at 6.847.

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