Tag: Malaysia
KNM Process Systems gets court order stopping staying shut down
Tweet In Malaysia, KNM Process Systems has succeeded in getting a court to grant an interim injunction to restrain Mission Biofuels from shutting down the company, who owes Mission Biofuels A$3.8 million. The application is set to be heard in court on May 9. KNM Group is claiming malicious intent by Mission against its subsidiary [...]
Felda Global Ventures purchases Mission NewEnergy biodiesel plant for $11.5M
Tweet In Malaysia, Felda Global Ventures Holdings purchased Mission NewEnergy’s Kuantan Port plant for $11.5M. The 30 MMgy plant is expected to be fully operational by July 1. The signing is a forward effort by FGV towards supporting the [Malaysian] government’s B5 and B10 biodiesel initiative to make biodiesel viable in view of growing demand [...]
Palm oil prices slips as West Texas crude falls
Tweet In Malaysia, palm oil prices are slipping as demand drops for biodiesel production following lower West Texas oil prices. Barrel prices fell to below $90 on good economic data coming out of China, who saw GDP growth of 7.7% during Q1, which in turn led to palm oil slipping 1.8%. It has fallen 5.5% [...]
Malaysian palm oil stockpiles getting dangerously low
Tweet In Malaysia, the palm oil stockpiles fell dramatically this month to 2.27 million metric tons, the steepest drop since January of 2011. Output gained 2.3% to 1.33 million tons, with exports gaining only slightly less. The country is currently experiencing a slump in prices across all industries, and the decline in palm oil inventory [...]
Malaysian biodiesel may benefit from EU scrutiny of Argentina and Indonesia
Tweet In Malaysia, palm oil biodiesel producers may be able to benefit from proposed trade sanctions the EU is looking to lodge against Indonesian and Argentine biodiesel exporters. The country’s five biodiesel facilities are running at full capacity in hopes of taking advantage of the EU’s enquiry on the impact of the export tax differentials [...]
Malaysian diesel to biodiesel spread at $130 per ton, for now
Tweet In Malaysia, the diesel to biodiesel spread is currently around $130 per metric ton in favor of biodiesel thanks to a huge glut of palm oil but there are concerns that the volatile biodiesel industry might soon suffer after such windfalls when the stockpile is reduced, pushing prices higher. To offset eventual higher prices, [...]
Crude palm oil prices expected to drop in April
Tweet In Malaysia, crude palm oil prices have dropped to $800 per tonne, and the CPO market may further downturn after April when seasonal supply factors begin to take effect. Malaysia and Indonesia will reach peak production around this time, and South America’s bumper harvest of soybeans will also put pressure on the market. World [...]
Biofutures International raises $48m as it acquires Malaysian biofuels company
Tweet In Malaysia, Biofutures International Plc has raised USD$48m via share placement as it proposed to acquire Platinum NanoChem Sdn Bhd, a Malaysian biofuels company. “The proposed acquisition of Platinum Nanochem and the successful fund-raising represent a significant opportunity to enhance shareholder value,” said Biofutures CEO Joe Wong. More on the story.
Malaysian palm oil eyeing US market for 2013
Tweet In Malaysia, palm oil traders see the US as the next big target for palm biodiesel exports thanks to the reintroduction of the biodiesel blending credit and the massive overhang of a bumper palm oil crop. PME is running at about $1,100 per ton while SME is running at $1,200 per ton at the [...]
W2 Energy buys 51% of Malaysian biodiesel plant for $5.5 million
Tweet In Malaysia, Canada’s W2 Energy, Inc. announced it has signed a binding memorandum agreement to purchase 51% of AM Biofuels of Pasir Gudang, Port of Johor for $5.5 million in a share trade deal. The plant can produce 30,000 metric tons of biodiesel annually from palm oil, but currently only plans to produce 20,000 [...]
