Biofuels trading becomes active

New York-based energy broker GFI said that it has opened a biofuel desk in Singapore, in response to increasing demand for green fuels globally. With the European Union setting its target to use 5.75% biofuels in fuels by 2010, producers in Asia are preparing to supply European demand for biofuels. Other energy brokerage firms that have started their own biofuel desks include Ginga Petroleum (Singapore) Pte Ltd. and White Plains, N.Y.-based broker OceanConnect.  (December 7, 2006)