Synthetics share of the 35 million metric ton global lubricants market is expected to grow from 10 percent in 2009 to 12.5 percent by 2019, according to a new study from Kline & Co., driven by OEM technical demand for synthetics and growth in high-quality base oils. We feel the synthetic and synthetic blend category is a category thats poised for growth, when many other product categories are showing declines, some of them significant, said Geeta Agashe, vice president of Kline & Co.s e...

Lubrizols additives segment and lubricant supplier Quaker Chemical each reported an increase in profit and revenue for the quarter ending March 31, compared to year-earlier results. The additives segment of Lubrizol reported nearly $260 million in operating income for the first quarter, up 5.5 percent from $246.4 million in 2010s first quarter. The segment posted revenue of $1.1 billion, up 16 percent from $948 million in the year-earlier quarter. As an entire company, Lubrizol of Wickliffe, O...

Metalworking fluids manufacturer Metalloid will move its headquarters from Huntington, Ind., to a larger facility in Sturgis, Mich., later this year. Were probably planning to move in mid-summer to early fall, Metalloid CEO Fred Edwards told Lube Report. It really depends on how fast we can clean the building and upgrade it. Edwards said the Sturgis facility has 30,000 square foot of space – including offices, laboratory and manufacturing – and was ideally suited to Metalloids type...

South Korean base oil refiners SK Lubricants and S-Oil reported hefty increases in operating income and revenues for the quarter ending March 31, compared to a year earlier. SK Lubricants posted an operating profit of 89 billion South Korean won (U.S. $83.5 million) for the quarter ending March 31, up 75.2 percent from the year-earlier period. Sales for Seoul-based SK Lubricants totaled 611.1 billion won, up nearly 49 percent from 410.3 billion won in 2010s first quarter. SK operates a 21,000...

Freight rates out of the U.S. Gulf are lower, owing to a greater supply of tonnage. European trades have been slow, and the same is true of Asian markets. U.S. Gulf As expected, not all the prompt tonnage that came open in the U.S. Gulf has been able to find cargoes back out again, and with a further batch of ships fixed into the region for mid and second half May, the supply/demand balance has tipped firmly towards oversupply. Rates on the eastbound transatlantic route have already registered...