Wednesday, 2 April 2014

Lube Report 2 April 2014

April 2, 2014
Volume 14 Issue 14

Lube Report

Shell Lubricants notified U.S. customers on Monday that prices for Shell brand finished lubricants will generally increase by up to 4 percent effective May 5.

Kline & Co. warns the base oil industry to prepare for substantial capacity rationalization and weak margins over the current decade, as demand growth slows and new capacity depresses the market.

ExxonMobil Chemical opened its new metallocene polyalphaolefin synthetic lubricant base stock plant at its Baytown, Texas complex, boosting the company’s global PAO capacity by 50,000 metric tons per year.

A fire last week at Fiske Brothers’ Toledo, Ohio, lubricants plant resulted in no injuries but caused approximately $8,000 in damages, according to the local fire department. Plant operators and fire crews quickly contained the blaze.

While Turkey’s lubricants market has sustained growth, it is still marred by illicit base oil trade despite government efforts to crack down, a Turkish oil industry association official said.

Calumet Specialty Products Partners is acquiring Tulsa, Okla.-based Anchor Drilling Fluids USA’s parent company, ADF Holdings, for $235 million.  Houghton International completed its acquisition of Henkel’s North American Steel Mill business, including rolling oils, pickle oils, wet temper fluids and steel mill-specific cleaners.  Automotive parts company Chr. Kapodistrias & Sons will distribute Castrol products for BP Eastern Mediterranean Ltd. in Cyprus.

Base Oil Reports

U.S. Base Oil Price Report

The U.S. base oils market was dealt a full house in terms of posted price increases, with a number of players joining those producers who had stepped out with announcements earlier this month.–by Gabriela Wheeler

EMEA Base Oil Price Report

Rising API Group I and Group II prices throughout the EMEA markets have stabilized at last week’s levels. Group l supplies from mainland suppliers are still tight, with Baltic avails still not forthcoming.–by Ray Masson

SSY Base Oil Shipping Report

European markets may not be quite as firm as before, while Asian markets are steady and the U.S. continues to endure a shortage of cargoes and weak rates.–by Adrian Brown

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