Home January 12, 2016

January 12, 2016

Volume 3 Issue 2

Fastest Growth Forecast for Asia-Pacific

Lubricant demand in the Asia-Pacific region is projected to rise 3.3 percent annually, reaching 19.5 million metric tons in 2019, according to a new study published by Freedonia Group. The U.S. market research firm said no other region will grow as fast as this market.

Asia Steps Into Marine Lubes Spotlight

Fully 53 percent of the worlds thirst for marine lubricants springs now from Asia, an official with Total Lubmarine told a recent industry conference. Its a vital region for any lubricant player in this 2.1 million metric ton market.

Hi-Tech Lubricants Conducts IPO

Pakistani lubricant supplier Hi-Tech Lubricants Ltd. raised 2.84 billion rupees (U.S. $27.1 million) last week in the first phase of its initial public stock offering on the Pakistan Stock Exchange.

Rail Access Boosts Sinopec Plant

Sinopec is gearing up for the opening of a railway spur designed to improve transportation access for lubricants manufactured at one of its plants, in Southwest China. A dedicated 1.7 kilometer segment scheduled to open this month will provide direct access to rails carrying products throughout the region.

Briefly Noted

Malaysias Petronas Lubricants International has teamed with Indian automaker Tata Motors to produce a range of cobranded engine and gear oils. MJL Bangladesh Ltd. is now licensed to sell Mobil marine lubricants duty free from its Chittagong, Bangladesh, warehouse.

Base Oil Reports

purple world americas

Asia Base Oil Price Report

Sentiment in Asia was downbeat as trading on the Chinese stock market was suspended twice during the week on sharp drops in equities and 11-year lows in crude oil prices. -by Gabriela Wheeler

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