Volume 1 Issue 7
ASEAN Car and Motorcycle Sales Rise
February 18, 2014Southeast Asian sales of automobiles, motorcycles and scooters rose moderately in 2013, as the regions population of motorized four- and two-wheelers continued to increase. Production of four- and two-wheelers also rose, according to the ASEAN Automotive Federation.
South Korean Lube Demand to Edge Up
February 18, 2014South Koreas demand for lubricating oil is projected to increase slightly to 917,137 metric tons in 2014, according to a report by the Korea Lubricating Oil Industry Association. That total would represent a paltry 0.4 percent increase from the level reported for 2013.
Hyundai Oilbank-Shell Moves Toward Opening
February 18, 2014A new player is scheduled this year to join the ranks of South Korean base oil suppliers. An API Group II plant being built by Hyundai Oilbank and Shell is due to be finished in the second half of 2014, and could come onstream in September.
Pakistani Distributor Builds Plant
February 18, 2014Hi-Tech Lubricants Ltd. held a ceremony last week marking the start of construction for a lubricant packaging plant in Lahore, Pakistan. The facility is being built in cooperation with SK Lubricants, supplier of Zic brand lubes that Hi-Tech distributes.
Briefly Noted
February 18, 2014GS Caltex announced that its lubricant business reported a 12 percent drop in sales and a 26 percent drop in operating profit for 2013. Fellow South Korean refiner S-Oil said its lubes business suffered a 29 percent drop in sales and a 78 percent decline in operating profit. Indias Gulf Oil Corp. Ltd. said its lubricant division had revenue 215 crore rupees (U.S. $34.8 million) for the third quarter ended Dec. 31, up 0.9 percent from the same period of the previous year. Shell Lubricants named JWT Singapore Chief Creative Officer Valerie Cheng global executive creative director, responsible for creative direction in worldwide marketing of brands such as Helix, Rimula and Advance.
Correction
February 18, 2014An article in last weeks issue incorrectly stated that Castrol Edge and Sinopec Great Wall Justar engine oils failed a TEOST MHT test conducted by China Consumer Reports magazine. Both oils formed less than than 45 milligrams of deposits, the maximum amount permitted for 5W-40 oils under the API SN specification. The story cited a limit of 35 mg that applies to 0W-20, 0W-30, 5W-20, 5W-30 and 10W-30 oils.