With all the public holidays taking place around the world, business has been disjointed and difficult to conclude. The shipping market has suffered as a result, with all regions reported to be slower.-by Adrian Brown

After more than a decade of steady investments, China has capacity to make more base oil than it consumes. But that capacity is a poor match for the mix of base oils that the country needs, leading to significant under-utilization, a consultant said at a recent industry conference in Suzhou.

Japans Mitsui Chemicals plans a February 2021 opening for a plant that will produce its Lucant-branded hydrocarbon-based synthetic fluids, which are used mainly as viscosity modifiers in lubricants. The company held a groundbreaking ceremony for the project last month in Chiba Prefecture, eastern Japan.

South Korean base oil refiners SK Lubricants, S-Oil and Hyundai Shell Base Oil Co. each reported a steep decline in operating profit for the quarter ending March 31, mostly due to narrowed margins. Castrol India Ltd. reported an increase in first-quarter net profit and Pakistans Hi-Tech Lubricants Ltd. posted a steep decrease in net profit.