Argus Launches Asian Biodiesel Price Assessments
SINGAPORE, Nov. 29 /PRNewswire/ -- Argus Media, the energy price reportingagency, is launching assessments for palm oil methyl ester (PME) forSingapore,Malaysia and Indonesia.
From 3 December 2007, Argus will provide daily fob price assessments forPME meeting European EN14214 specifications loading from Singapore, Malaysiaand Indonesia. It will provide detailed information on market activities anddevelopments including trades, bids, offers and details of cargoes that meetthe European specifications. PME is made from crude palm oil and other inputs,and is typically blended with motor diesel.
"Argus is pleased to contribute to the development of this critical newmarket in Asia by offering a range of reliable benchmarks for Asian PME," saidArgus' Asia-Pacific vice-president, Jason Feer. "These new benchmarks furtherArgus' market-leading efforts to provide reliable pricing tools for the globalbiofuel sector."
The three new assessments will be published in Argus Asia PacificProducts,a daily market report that provides pricing and market commentary for a widerange of refined products in Asia-Pacific, including gasoline, naphtha,diesel,jet fuel and fuel oil. Argus has been assessing prices for a range of biofuelcomponents in European markets since January 2007.Singapore is a leading global refining centre, a major petrochemical huband Asia-Pacific's dominant oil trading centre. It is evolving into a majorregional processing and trading hub for biofuels. New biodiesel plants onJurong Island are scheduled to begin operations in the near future, with localbiodiesel production expected to exceed 1mn t/yr by 2010.
As the supplier of more than three-quarters of the world's palm oil, Asiais a key supplier of raw materials and finished products to the globalbiodiesel industry. Malaysia and Indonesia together produce over 90pc ofglobal palm oil supplies. Malaysia is the world's top palm oil producer, with75 approved biodiesel manufacturing projects.
In conjunction with the launch of the Asian PME assessments, Argus ispleased to announce the first annual Biodiesel Trading in Asia conference, tobe held in Singapore on 28 February 2008. This is the first conferencespecifically designed to focus on the Asian biodiesel trading market and theissues that will drive east-west biodiesel trade.
About Argus
Argus Media is the world's largest independent provider of priceassessments, business intelligence and market data for the global energymarkets. Established in 1970, Argus has more than 200 employees based in keylocations around the world.
Among its more than eighty publications, Argus produces two other regionalproducts reports -- Argus European Products and Argus US Products -- leadingmarket reports offering reliable daily pricing services, insight into andanalysis of oil product markets.
For further information please contact:
Zhilin Yuan
Regional marketing manager
Argus Media
22 Malacca Street, # 10-02 Royal Brothers Building, Singapore 048980
Tel: +65 6496 9966
Fax: +65 6544 3181
Email: zhilin.yuan@argusmediagroup.com
Web: http://www.argusmediagroup.comSOURCE Argus MediaZhilin Yuan, Regional marketing manager of Argus Media, +65 6496 9966, fax,+65 6544 3181, zhilin.yuan@argusmediagroup.com
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