Fewer Cars, Higher Sales at Quick Lubes
While car counts continued to decline at U.S. quick lube facilities, down by 1.5 cars per day from 2008 to an average 32.4 cars per day this year, the average ticket increased 2.5 percent to $52.04 and average yearly sales per store also rose, according to National Oil & Lube News’ 2009 Fast Lube Operators survey.
[FULL STORY]
|
Chevron Waves White Flag in India
Chevron will exit the lubricants market in India next month,
the company confirmed in a statement provided to Lube Report yesterday. An
industry consultant cited the intense competition in India’s market as a likely
factor in the decision.
[FULL STORY]
|
Blue Chip Plans S. African Franchise
South Africa’s Blue Chip Lubricants plans to establish a chain of franchise outlets, combination retail stores and distribution centers. Officials said they aim to open four outlets within a year and eventually to expand to 12.
[FULL STORY]
|
Brighter News for Lubes?
Lubrizol on Monday raised its earnings guidance for 2009 to a range of $6.10 to $6.40 per diluted share, which the additives manufacturer said reflected improving volume trends in the current quarter as well as maintenance of its cost reduction initiatives.
[FULL STORY]
|
Arkema, Oxea, Kraton Raise Prices
Arkema has raised its prices for oxygenated solvents in Europe, Kraton Polymers will hike prices in the Asia Pacific for polymers used in lubricants, and Oxea plans to increase its prices in several regions for carboxylic acids and polyols used in lubricants.
[FULL STORY]
|
U.S. Base Oil Price Report
Ergon and Cross announced plans to move naphthenic prices higher by 20 cents per gallon this week, closely following the Nynas increase earlier in the month.
[FULL STORY]
|
Europe-MidEast-Africa Base Oil Price Report
EMEA’s base oil market is a rapidly changing scene where prices are starting to move upwards due to supply pressures, with a distinct lack of availability for all API Group I grades in mainland Europe and North Africa.
[FULL STORY]
|
SSY Base Oil Shipping Report
Only the market in Asia is able to display any strength this week. All other areas are lacking in spot business, and we see freight rates continuing to decline in both the United States and Europe.
[FULL STORY]
|
