In Texas, Global Trade Magazine reports China plans to issue its first export quotas of 500,000 metric tons for marine biofuel blends by early 2025, targeting European trade routes to support domestic biodiesel producers hit by EU anti-dumping tariffs, according to industry sources and consultancy JLC.
The state-owned oil companies CNPC, Sinopec, and CNOOC are expected to receive allocations for the B24 blend, which contains 24% biodiesel and 76% low-sulfur fuel oil. This initiative aims to counter declining exports and promote lower-carbon fuels for ships operating between China and the EU. Zhoushan port, a key player in China’s marine fuel trade, is set to benefit from increased biofuel sales, mirroring trends at global hubs like Singapore and Rotterdam.
Singapore’s biofuel volumes in 2024 already exceeded 650,000 tons, highlighting growing demand. While China’s Ministry of Commerce has not commented on the quotas, the move represents an effort to stabilize its biodiesel industry and enhance competitiveness in the international marine fuel market.
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Tags: B24, China, marine biofuels
Category: Fuels
