Home July 1, 2014

July 1, 2014

Volume 1 Issue 26

Afton Breaks Ground in Singapore

Afton Chemical began construction last week of a lubricant additive plant on Jurong Island, Singapore, The facility is scheduled to begin operating in late 2015.

Viscolube, Baosteel Plan Rerefinery

Italian rerefiner Viscolube agreed to develop a waste oil rerefinery in cooperation with Chinese steelmaker Baosteel. Construction of the facility, which would have capacity of 40,000 metric tons per year, hinges on Baosteel relocating its Shanghai steel factory.

Japan MWF Maker Goes Big in India

Japanese metalworking fluids manufacturer Yushiro Chemical Industry Co. recently announced plans to expand its business in India, following the commencement of its new facility earlier this year.

Pertamina Targets Thai Blender

Indonesias state-owned Pertamina Lubricants is negotiating to acquire Thai blender Amaco Production Co. Ltd. by the end of the year, an Amaco official told Lube Report Asia.

Oxea Builds Esters Plant

Oxea Chemicals finished construction of a specialty esters plant in Nanjing, China. Some of the output will go to the lubricants industry for applications such as refrigeration lubes.

Briefly Noted

Quaker Chemical paid AU $8 million (U.S. $7.5 million) to buy a 49 percent stake in Quaker Chemical (Australasia) Pty. Ltd. from its joint venture partner, Nuplex Industries, of Auckland, New Zealand. The Australian company is now a wholly owned unit of U.S.-based Quaker Chemical. Gulf Oil Corp. India Ltd. shares were listed on Indias National Stock Exchange and Bombay Stock Exchange on June 26. Its recently demerged lubricants division, Gulf Oil Lubricants India Ltd., will be listed next month. Oxea raised prices on several solvents, effective July 1.

Base Oil Reports

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Asia Base Oil Price Report

Trading was somewhat subdued, with buyers taking a wait-and-see position and suppliers cautious as production costs remain high and demand prospects appear uncertain. - by Gabriela Wheeler
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