Tighter Base Oil Supply Expected in Europe
Europe will likely experience a fundamental decrease in base stock availability, as new sources of highly refined base stocks are unlikely to replace continued losses in API Group I capacity, according to the German Lubricant Manufacturers Association.
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Valvoline Reports Mixed Results
Lubricant blender Valvoline posted $47 million operating income for the three months ending Dec. 31, down almost 30 percent from $67 million in the year-earlier period, while sales totaled $475 million, up 6.8 percent from the year-ago quarter.
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Petroplus to File for Insolvency
Petroplus Holdings AG yesterday said it will file for insolvency, days after announcing plans to sell its Petit Couronne refinery, which has a 7,300 barrels per day base oil plant.
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Italian Lubes Firm to Open N.C. Plant
Lubrimetal of Italy will invest $1.9 million over the next three years developing a manufacturing facility in North Carolina for production of wet and dry lubricants for steel and non-ferrous wire drawing.
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Briefly Noted
Synthetic esters and lubes supplier NYCO America promoted James V. Mustacchio to CEO, replacing
William D. Manning, who retired at the end of 2011. PMC Group set up PMC Hydraulika in northwest Poland to
assemble hydraulic and lubrication systems.
Trans Rep will market Maple Leaf Lubricants’ Hi-Tek25 15W-40
diesel motor oil to Canada’s trucking industry.
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U.S. Base Oil Price Report
U.S. base oils market participants report that sales are gaining momentum against fairly balanced availabilities for basically all grades of API Group I/II/III paraffinics as well as naphthenics.
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Europe-MidEast-Africa Base Oil Price Report
European availability of bright stock is showing length, while grades such as SN 500 and to an extent SN150 are becoming less available in larger quantities, particularly for export sales.
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SSY Base Oil Shipping Report
Asian markets were slow due to the lunar holiday, causing some incidental impact on European and U.S. markets. However, other regions had a reasonably busy week.
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