Volume 8 Issue 47

Korea Base Oils Continue Upward Trend

South Korea again exported a larger volume of base oils and more than doubled its declared export value in October, compared to the same month last year. This was the fourth month this year – along with April, July and September – in which export volume topped 422,000 metric tons and the value exceeded $400 million.

Profits Up for MJL, Down for Tide Water

Tide Water Oil Co. and base oils and lubricants trader Maximus International both reported drops in profits for the quarter ended Sept. 30, while profits were up for a third Indian company, Continental Petroleums Ltd., and Bangladeshi MJL Bangladesh Ltd.

Lopal Bets Big on Battery Materials

Over the past two decades, Lopal Technology Co. grew rapidly to become a major player in China’s lubricant market. Now the company is investing big in an attempt to become a significant supplier of raw materials used to make lithium-ion batteries for electric vehicles. The combined price tag for those investments is large enough to have drawn a formal inquiry from the Shanghai Stock Exchange.

From Other Editions of Lube Report

11 OEMs Back Global Spec Initiative

EVs Also Threaten Industrial Lubes

Russian Lubes Slog Toward Recovery

Briefly Noted

Sales of new automobiles in Japan fell 31% to 279,341 in October, declining from 406,851 in the same month last year, according to data released by the Japan Automobile Manufacturers Association. Passenger car sales dropped 32% to 230,499 and truck sales fell 27% to 48,366, while bus sales increased 4% to 476.