Nordic countries take protective action in case Abengoa shuts down Rotterdam plant

In the Netherlands, Nordic countries are looking to protect themselves against a possible shut down of Abengoa’s ethanol plant in Rotterdam—the largest in Europe—and have begun taking measures such as importing ethanol from the US and taking term contracts until the end of April. The five of the company’s US subsidiaries filed for bankruptcy protection on Wednesday. The protective actions may not be immediately necessary European market is well supplied, the best it has been in the past month or more, and enough to be in a contango with stocks building up.