Volume 2 Issue 8
Business has picked up over the past week in Europe, but Asia is slow to gather momentum. The U.S. market is heavily committed to contracts, but less so for spot business. Space is tight all the same.-by Adrian Brown
Tariffs imposed on lubricants and lubricant additives traded between the United States and China have made an obvious impact on the markets in both countries, but the U.S. industry has also been affected by levies that Washington, D.C. imposed on steel imports.
Except for Venezuela, lubricant demand in South Americas Andes region has been growing in recent years, and the biggest beneficiaries have been local suppliers and second-tier foreign marketers. Big international oil majors have lost significant market share for a variety of reasons, including their own pullbacks and the entry of new suppliers.
Moove - Cosans lubricant production and distribution arm - capped off an auspicious run in 2018 with a strong fourth quarter, increasing revenue and keeping lubricant volumes steady amid lower demand.