Global supply of API Group I base oils will shrink to just half of the worlds total over the next decade, down from about two-thirds today, but thanks to the rising price of wax, existing Group I plants may enjoy a new lease on life, according to consultancy Kline & Co. In a webinar yesterday, Milind Phadke, India-based project manager in Klines Energy Practice, offered highlights on the outlook for Group I base oil plants from Klines new study, Competitive Analysis of the Global Lubricant...

Oxea announced last week that it has agreed to buy an ester plant in Amsterdam from ExxonMobil Chemical. The companies did not disclose the price of the purchase, which raises Oxeas profile in ester production. Oxea, which is based in Oberhausen, Germany, said it bought the plant to extend its value chain and to broaden the range of applications that it serves. Oxea already makes the base materials used in ester production. The Amsterdam plant makes synthetic esters used in lubricants as well a...

Westway Terminal Co. agreed this week with an unnamed oil company to store nearly 170,000 barrels of base oil at its Port Allen, La., terminal over the next 16 months. The agreement begins in August for 73,000 barrels of existing Westway tankage and October 2010 for 95,000 barrels of new construction. The agreement provides for the expansion of Westways Port Allen Terminal, which currently has capacity of 387,500 barrels. The additional 100,000 barrels will be phase one of Westways expansion,...

Chemidex LLC last week launched its Lubricant & Metalworking Fluids Cybrary industry search engine, which is intended to enable lubricant and metalworking fluid formulators to search participating suppliers data sheets and other information in one location. The company formed partnerships with both the Independent Lubricant Manufacturers Association and the Society of Tribologists and Lubrication Engineers, whose members will have free access to the industry search engine. The Chemidex we...

Canon is offering free cleaning of two of its popular high-end digital cameras to remove excess oil applied during manufacturing to lubricate internal moving parts. Canon last week said that images taken with its EOS-1D and -1Ds Mark III digital SLR cameras may exhibit large ring-shaped spots. The cameras, with suggested retail prices of $4,500 and $7,999 – accessories are extra – were lubricated too liberally during manufacturing, and oil scattered onto the surface of the low pass ...

European markets have been more encouraging over the past week with more enquiries seen. The long Ascension Day weekend however is looming and may deflate further progress. Elsewhere, the oversupply of tonnage continues in Asia, India and the Middle East Gulf, while the United States is essentially snug on space. Overall, freights have not changed substantially from last week. U.S. Gulf of Mexico Demand/supply of vessel space is balanced to tight, depending upon the route. Tightness is noted on...