Volume 1 Issue 5
The United States is busy in nearly every area. Europe is more active on the long-haul routes, but coastal routes are somewhat flat. Many Asian routes have a healthy level of activity, but there are some that are starting to stall.-by Adrian Brown
Russian Group II and Group III base oil marketers are set to increase their exports in 2018, spurred by lower logistics costs and rising base oil prices, according to an industry insider.
Global bright stock demand sat at 2.7 million tons in 2017, but is expected to decline by roughly 250,000 tons by 2027, Kline & Co. said in a webinar last week. Europe accounts for around 10 percent to 12 percent of global demand, and its consumption is expected to decrease at an average annual rate of 0.1 to 0.2 percent, while Africa and the Middle East account for 12 percent to 15 percent and should increase at an annual rate of roughly 0.5 percent.
Tanzanias Energy and Water Utilities Regulatory Authority set March 31 as the deadline for all persons dealing in lubricants in the country to register their products with the agency or face penalties. This includes lubricants produced domestically and those imported into Tanzania.
Chemical manufacturer Saudi Basic Industries Corp. purchased a 24.99 percent stake in Clariant, making the Saudi Arabian company the largest Clariant shareholder. The shares were previously owned by White Tale and 40 North. Financial terms of the agreement were not disclosed.