Argentina To Eliminate Taxes Paid By Biodiesel Producers

Posted by Joseph R. Fonseca
Monday, April 21, 2014
Argentine President Cristina Fernandez

 

Argentine President Cristina Fernandez on Monday asked Congress to eliminate some of the taxes paid by biodiesel manufacturers in a bid to support an industry hard hit by European Union anti-dumping measures.

Argentine biodiesel exports are expected to plunge as much as 39 percent this year versus 2013 due to tariffs imposed by the European Union, according to theArgentine industry sources.

The tax cut would last only as long as Europe's sanctions do, according to the proposal.

"We are in a trade war," Fernandez said in announcing the measure, which will be sent to Congress in the days ahead.

It was the latest in a series of pragmatic policy shifts by Fernandez this year as she contends with high inflation and slow investment and growth in Latin America's No. 3 economy.

In the past three months she has cut heating gas subsidies and let the peso devalue by 18 percent. Fernandez has also earned kudos from investors by revamping the government's shoddy inflation reporting and agreeing to pay Spain's Repsol $5 billion for the 2012 nationalization of oil company YPF. (Reporting by Jorge Otaola and Hugh Bronstein; Editing by Bernard Orr)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Strike In France: Implications for Tanker Demand

After the oil industry suffered from a severe drought in Venezuela, forest fires in Canada and rebel attacks on oil installations in Nigeria, it is now facing

Floating Storage Flattens Fortunes of $50 Crude

The prices of WTI and Brent crude briefly rose above $50/bbl during intraday trading on Thursday, the highest level seen since the end of July 2015, giving traders a brief moment of optimism,

GloMEEP Project Forges Ahead with Train-the-Trainer Workshop

A global Train-the-Trainer workshop on energy efficiency has been delivered in China (23-27 May), preparing the personnel needed to cascade knowledge on energy

News

APM Terminals Bahrain Push for Safety, IT systems

Hidd, Khalifa Bin Salman Port, Bahrain - APM Terminals Bahrain, operators of Khalifa bin Salman Port (KBSP), has recently made significant advances in Safety performance

Seized Hanjin Shipping Vessel Resumes Operation in South Africa

Hanjin Paradip resume  its sailing from South Africa as talks continue with owner over unpaid charter fees. The ship had been detained in Richards Bay, South Africa

Deployment: The Transpacific Trade Steps Up To The Plate

In 2015, it was the Asia-Europe route which was the focus of changing deployment trends, says Clarksons Research.   This year, it is the Transpacific trade which

People in the News

DNV GL’s Ellen Crivella Named 2016 Rising Star by Women of Wind Energy

DNV GL’s Ellen Crivella was honored with the 2016 Rising Star Award at the Women of Wind Energy (WoWE) luncheon at the 2016 AWEA Windpower Conference and Exhibition.

Wärtsilä Electrical Systems for SIEM RoRo Ferries

Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) yard in Germany.

APM Terminals Bahrain Push for Safety, IT systems

Hidd, Khalifa Bin Salman Port, Bahrain - APM Terminals Bahrain, operators of Khalifa bin Salman Port (KBSP), has recently made significant advances in Safety performance

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0883 sec (11 req/sec)