Volume 1 Issue 6
SSY Base Oil Shipping Report
February 6, 2018Tightness of vessel space in the U.S. Gulf is the main limiting factor as to a lack of fixtures this week. Europe has been slightly busier on the long-haul routes but remains flat on coastal markets. Asia is slowing down in advance of the New Year holidays.-by Adrian Brown
Russia Pushes Commodities Trade for Lubes
February 6, 2018In an effort to help push down prices, Russias antimonopoly agency has been encouraging finished lubricant marketers to trade on the St. Petersburg commodities exchange. Some industry sources doubt the initiative would be effective.
ACEA: European Fleet Increased
February 6, 2018European Union demand for vehicles grew 3.4 percent in 2017, marking the fourth consecutive year of growth, the European Automotive Manufactures Association found in a recent annual report.
Diverse Energy Sources Lead EMEA Regions
February 6, 2018Europes top energy source is projected to remain oil through 2040, while biomass and waste will continue to lead in Africa, and natural gas will provide a larger share of energy in the Middle East, according to the 2018 edition of ExxonMobils global energy outlook.
2017 Proves Positive for Hydrodec
February 6, 2018United Kingdom-based transformer oil rerefiner Hydrodec Group posted its first positive full-year profits in the groups history for 2017, and its revenues were up 6 percent from 2016, according to its pre-close trading update issued Monday.
From Other Editions of Lube Report
February 6, 2018Briefly Noted
February 6, 2018German lubes and specialty chemicals supplier Zeller+Gmelin named Andreas Rascher its new head of global marketing. Greek marine equipment and technical support supplier Technava partnered with Danish firm Maersk Fluid Technology to promote the marine lube suppliers Sea-Mate lubricant blending-on-board system to the Greek and Cypriot markets. Veritas acquired British transformer and insulating oil testing company Transoil Laboratory Ltd. to expand into the power industry. Frances Total and Scotland-based Aggreko signed an extended agreement through which Total will supply the energy provider with lubes throughout the whole of Europe.