Maximus Expands in East Africa
Indian lubricants blender Maximus International Ltd. plans to triple its production capacity in East Africa, the company announced, setting a high growth target with eyes on extending its reach across the continent. The company operates in the region through its wholly owned subsidiary, Nairobi, Kenya-based MX Africa Ltd. Read more
ExxonMobil Continues Group II Expansion
ExxonMobil is evaluating the possibility of building capacity to make API Group III base oils, according to the head of its base oil business. For now, however, the American energy giant continues investing in Group II capacity, including a Singapore project that is scheduled to create by far the world’s biggest base oil plant in 2025. Read More
Grease Output Up in Japan, Southeast Asia
Global grease production increased 8% in 2021, according to the latest survey by the National Lubricating Grease Institute, as the industry rebounded from the impacts of the COVID-19 pandemic. The survey, considered the most comprehensive check-in on the world’s grease industry, also showed a 17% jump in production in Japan and a 13% boost for Southeast Asia and the Pacific. Read more
Price Increases YTD 2021
UPDATED 8/18/2021: An astute JobbersWorld reader, Greg Kasdorf at Eastern Oil Co., contacted JW to advise that rather than summing the totals of each percentage increase in the story we ran earlier in the week (see below), the significance of the adjustments is better expressed by capturing the fact that the increases are compounded. With compounding, the total of the increases seen so far in 2021 is close to 116%. READ MORE
Fourth Price Increase of 2021 on Finished Lubricants Goes Into Effect in July 2021
In an unprecedented and “unique” year, suppliers have announced their fourth price increase since January 2021 on finished lubricants, greases, chemicals, coolants, DEF, and antifreeze – with hikes ranging from 7% to 18% depending on the product. The increases, which go into effect beginning July 12 and average about 12%, have been attributed to continued market stress and soaring costs for everything raw materials to additives, packaging, transportation, and logistics. READ MORE
U.S. Base Oil Price Report – August
Activity has not let up significantly in the United States market despite the summer holidays, with most base stocks seen as hot commodities pursued by anxious buyers, many of whom have had to cut back downstream manufacturing rates due to a shortage of certain grades and additives. However, the supply of a number of base oils has started to improve – namely the light viscosity cuts, which had been slightly less tight than their mid-and high viscosity counterparts. “The light grades are starting to come to a more balanced state. They are definitely far from long, but are much improved from where they were a few months ago,” a source noted. The fact that at least two API Group II U.S. Gulf producers have offered light viscosity cargoes for export was a sign that that segment was starting to lengthen. These cargoes were heard to be heading to India. Export opportunities helped [...]