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The European Commission seems to be determined to uphold the semestral quota on duty-free API Group II base oil imports, and projects that far less than the 200,000-metric ton semestral amount will used up by June. This forecast has raised eyebrows in the market.
It is unlikely that the European Commission will review the new duty-free API Group II base oil import quota that it adopted late last year, according to industry sources. The quota has caused confusion around the industry regarding its enforcement and led to increased costs for companies.
The European Commission last week adopted a quota for API Group II base oil imports, determining that volumes above 400,000 metric tons per year will be subject to duties of 3.7 percent.
The base oil market is changing as the industry tackles new sources of product, increasingly demanding lubricant performance requirements and a variety of other challenges, an industry insider said at an event in Cannes, France.
A European Commission committee met on Sept. 6 to discuss whether to renew, amend or abolish a tariff exemption for API Group II base oil imports to the bloc. The waiver is set to expire in December, and ideas to implement a quota are under discussion.
Bosch Rexroth is set to take delivery of the first prototype of its oil ageing test rig, a machine developed to obtain more precise values for the effects of lubricants ageing in the field. The prototype will be delivered in the coming weeks, an official with the German equipment manufacturer recently told a conference in Amsterdam.
Battery-powered vehicles have fewer grease applications than internal combustion engine vehicles, but EV components and changes in driving habits could still make opportunities for grease suppliers, an official with a German market research firm told an industry conference last week.