Base Oils (Asia Pacific) 2014-11-07

Copyright 2014 Reed Business Information Limited. ICIS Pricing is a member of the Reed Elsevier plc group.
7th November 2014
Base Oils (Asia Pacific)

Editor Jasmine Khoo, jasmine.khoo@icis.com,
Click for Price History

SN 150 EX-TANK S'PORE
SN 500 EX-TANK S'PORE
B/STK EX-TANK S'PORE
SPOT PRICES - GROUP I BASE OILS

Price Range
USD/TONNE
-40
960-980
USD/TONNE
-40
940-980
USD/TONNE
n/c
1220-1255
-40
-40
n/c
One year ago

990-1070
1080-1180
1200-1280
SN 150 FOB ASIA (EXP)

SN 500 FOB ASIA (EXP)
B/STK FOB ASIA (EXP)
USD/TONNE
USD/TONNE
USD/TONNE
-30
-50
n/c
870-880
840-870
1180-1185
-30
-40
n/c
950-970
1000-1020
1140-1150
SN150 CFR INDIA

SN 500 CFR INDIA
B/STK CFR INDIA
USD/TONNE
USD/TONNE
USD/TONNE
-40
-40
n/c
860-880
880-900
1125-1150
-30
-30
n/c
970-1000
970-980
1200-1220
SN 150 CFR N.E. ASIA

SN 500 CFR N.E. ASIA
B/STK CFR N.E. ASIA
USD/TONNE
USD/TONNE
USD/TONNE
-40
-60
n/c
930-950
900-930
1255-1270
-30
-50
n/c
980-1020
1070-1090
1200-1220

150N FOB NE ASIA
500N FOB NE ASIA
SPOT PRICES - GROUP II BASE OILS

Price Range
USD/TONNE
-30
800-840
USD/TONNE
-30
820-850
-20
-20
One year ago

970-1010.00
1110.00-1120.00
150 N CFR N.E. ASIA

500 N CFR N.E. ASIA
USD/TONNE
USD/TONNE
-30
-20
830-870
860-880
-30
-30
1000.00-1040.00
1140.00-1160.00
150 N CFR INDIA

500 N CFR INDIA
USD/TONNE
USD/TONNE
-20
-20
860-880
880-900
-20
-30
1020.00-1030.00
1150.00-1160.00

4 cSt FOB ASIA
6 cSt FOB ASIA
8 cSt FOB ASIA
4 cSt CFR ASIA NE
6 cSt CFR ASIA NE
8 cSt CFR ASIA NE
SPOT PRICES - GROUP III BASE OILS

Price Range
USD/TONNE
n/c
1050-1085
USD/TONNE
n/c
1060-1100
USD/TONNE
n/c
980-990
USD/TONNE
n/c
1090-1120
USD/TONNE
n/c
1095-1130
USD/TONNE
n/c
1010-1020
n/c
n/c
n/c
n/c
n/c
n/c
One year ago

1040.00-1090.00
1040.00-1090.00
1000.00-1010.00
1080.00-1120.00
1080.00-1120.00
1030.00-1040.00

3.5% FUEL OIL
0.05% GAS OIL
RELATED OIL PRODUCT PRICES (SPOT)

Price Range
FOB SPORE
USD/TONNE
-21
464-466
FOB SPORE
USD/TONNE
-15
719-720
-21
-15
One year ago

600-601
748-749
NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click
on methodology.
Asia base oils stable-to-soft on crude slides, oversupply,
bearish sentiment
Spot prices in the Asia base oils market were assessed as
stable-to-soft during the week ended 7 November, tracking
softer discussions following hefty drops in upstream crude

prices seen on 5 November. The existing supply overhang of
Group II spot material, and the subsequent pressure from
Group II on Group I, continued to dampen market sentiment.
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Page 2 of 9
Expectations of more active restocking among buyers, which
were heard earlier from some regional market players, were
impacted as well. Some market players had earlier held on to
hopes of seeing more enquiries from key markets like China
after a prolonged period of inactivity from some buyers, but
added that they were uncertain of that now that crude prices
have slumped again.
Declines observed for the regional European and Middle East
markets also contributed to the bearish sentiment seen in Asia,
with buyers voicing expectations of extended declines in the
following month based on current market conditions.
In the Asian Group I market, strong pressure faced from Group
II's price downtrend continued to weigh on Group I spot
pricing. Reduction in list prices from a major southeast Asiabased refiner for Group I material was also heard, but numbers
heard varied in a wide range and market players said price cut
levels varied from buyer to buyer based on factors like
purchase volumes.
Meanwhile, lower buy-sell indications for November-loading
cargoes during the week prompted cuts in spot price
assessment.
For SN150 and SN500, price declines were seen. SN500
slumped heavier compared to SN150, as greater supply of
SN500 exerted stronger downward pressure on SN500 prices.
SN150 also saw price drops brought about by crude oil falls
and also, competition from Group II 150N, but the degree of
price decline was less severe than SN500 because of tighter
SN150 availability.
Brightstock, on the other hand, was flat amid subdued trade
during the week. Regional traders said that Asian refiners were
maintaining their indications for brightstock very firmly.
For the Indian market, reductions were observed month on
month for the list prices of grades SN70, SN150, SN500 and
brightstock, in line with the declines seen in spot prices for the
broader global market. (see related news)
In the Middle Eastern market, lowered offers for Novemberlifting Russian-origin SN500 parcels prompted extended falls in
Group I spot pricing for the region during the week ended 6
November. Some market players said that this cut in Russian
cargo offers also resulted in softer Group I prices for the Indian
market, where buyers import Russian-origin material.
Going forward, most market players voiced expectations of
further drops in Group I prices, as present market conditions
were widely deemed too weak to support upward price
movement, or even price stability.
For the Group II market, factors such as sluggish demand,
supply overhang and slides in upstream crude and gas oil
prices contributed to extended drops in spot pricing for the
week.
Most northeast Asian Group II refiners lowered their selling
ideas and offers for November-lifting parcels, amid falling
buying indications, to stimulate import interest among regional
buyers.
Market sources said that a major southeast Asian Group II
refiner brought its list prices for 150N and 500N down, in line
with the softer prices seen throughout the Asian region. The
price adjustment was heard to be effective from 6 November,
according to market sources outside the company. (see
related news)
On top of reduced list prices for Group II, weak upstream
conditions also exerted downward pressure on Group II spot
discussion levels.
The Singapore Group II ex-tank market also recorded declines
week on week, as sellers who were previously targeting selling
ideas above $1,000/tonne ex-tank largely acknowledged that
such prices were no longer workable for this week's market.
In India, November list prices for Group II material from major
local suppliers were also heard to be reduced during the week
from October, reflecting the bearish market situation for Group
II globally. (see related news)
In the Group III market, spot prices were assessed as flat,
tracking subdued trading activity heard for Group III spot lots.
In the upstream sector, December WTI prices stood at
$77.66/bbl, reflecting a drop of 25 cents/bbl, during the
morning trading session on Friday.
Going forward, market players said prices were poised to
decline into the next month, as the prospect of seeing more
deep-sea cargoes coming into Asia from regions like the US
continued to weigh on market sentiment. Traditionally, USbased refineries would export more actively towards the end of
the year in order to liquidate cargoes in their inventories to
minimise inventory taxes which they would otherwise incur.
Furthermore, some market participants added that crude oil
and gas oil price movement remained an uncertainty for the
base oils market, leading most of these market participants to
maintain a cautious wait-and-see approach.
Chinese domestic market
The Chinese domestic Group I and Group II base oils prices
largely fell, except for Group III base oils prices which
remained stable in the week ended 7 November. The buying
sentiment was sluggish, because of the Asia-Pacific Economic
Cooperation (APEC) summit that was held in Beijing on 5-11
November. During the week-long event, trucks were not
allowed to enter the capital as authorities aimed to reduce air
pollution. Therefore, few spot deals were heard concluded in
the week.
Several import traders were very pessimistic about the outlook
of the market because spot offers from Asian refiners dropped
every week. Hence, they preferred adopting a wait-and-see
approach and delayed loading of cargoes.
Majority of downstream lubricant companies bought on a needto basis in the week due to the Chinese domestic base oils
price downtrend. Therefore, trading activities remained
stagnant during the week.
Sinopec plans to supply about 13,000 tonnes of Group I and II
base oils to the domestic market in November, representing a
18% rise from October, a company source said.
Chinas Sinopec Jingmen plans to conduct a turnaround at a
100,000 tonne/year Group II base oils unit in Jingmen on 17

Page 3 of 9
November after shutting its hydrogenation unit, a company
source said. The company is expected to suspend operation at
a 200,000 tonne/year Group I base oils unit in late November
when a 3.5m tonne/year crude distillation unit will be closed for
maintenance, the source added. (see related news)
Chinas Qisheng Industry & Trade resumed operations at a
70,000 tonne/year Group II base oils unit in Zibo, Shandong on
6 November, a company source said. The unit will mainly
produce Group II N600 and N150 base oils around 8
November, the source added.
GROUP I BASE OILS
Singapore
Ex-tank prices for Group I SN150 and SN500 grades in
Singapore were assessed as softer during the week, in line
with price reductions seen for Group I by a major southeast
Asia-based refinery and also, tracking price falls in the broader
FOB Asia market.
Market sources said that the cuts in Group I list prices varied in
a wide range, prompting expectations that different buyers
were given different reduction levels in their list pricing.
softer discussions heard. Talks of some deals heard done,

while not immediately confirmed during the week, also shed
light on price direction for the market.
3,000 tonnes of SN130 was heard to have been sold at
$900/tonne CFR SE Asia, which would translate into
approximately $870/tonne FOB Asia based on average freight
costs.
As a result, the assessment for low viscosity material was at
$870-880/tonne FOB Asia, with the high end reflecting SN150
material, which is of a higher quality as compared with SN130.
SN130 can substitute SN150 for up to 70-80% of downstream
applications, said market sources.
SN150, because of comparatively tighter supply, observed
growing price gap with SN500 as the latter remained in ample
supply faced with lacklustre demand.
For SN500, there were talks of SN500 of southeast Asianorigin having changed hands at $750/tonne FOB Asia, but this
price was deemed by a large part of the market as being too
low to be workable for the current market.
According to market players, heavy grade list prices were

reduced by $50-80/tonne, while SN150 was reduced by $5070/tonne, but no confirmation was available.
Some added that while it is true that Group I is facing

tremendous pressure from Group II in terms of pricing, the
situation has not worsened to the extent of a drop of more than
$100/tonne from earlier deals heard at around $890/tonne
FOB Asia in late October.
Meanwhile, the price cuts for brightstock varied at an even

wider range, ranging from no change to as high as $50/tonne.
However, most market players said that stable pricing for
brightstock was more likely for this week, as limited change
was observed in the broader Asia market as well.
Selling ideas from a regional refiner were heard at around

$875/tonne FOB Asia, even though it added that this price
might not be accepted by buyers considering how Group II
pricing remained on a decline.
On top of reductions in Group I list prices, the softer

assessment week on week was brought on by further declines
in Group II ex-tank 150N and 500/600N cargoes, as sellers
lowered offers to encourage buying activity.
No comments were available from the major refiner and the
above information was provided by market participants outside
the company.
A separate southeast Asia refiner was heard to have offered

SN500 at $920/tonne FOB Asia, but this price was deemed too
high by the buyer to be workable for the market.
The key China market was also said to be unable to accept
such prices at this time, especially with competitive pricing
seen within the China market.
Meanwhile, buying ideas were sporadic, capped at $820/tonne
FOB Asia and below. Most buyers who were not seeking
cargoes actively because of ample buyers' inventories or
because they were looking more at the Group II market, were
holding buying ideas largely within the $700s/tonne FOB Asia
range.
Outside of the Asian region, offers for Russian-origin SN500
were heard at $765-770/tonne FOB Black Sea for Novemberlifting parcels.
For brightstock material, prices on an FOB Asia basis were
assessed as stable week on week, tracking unchanged offers
from regional suppliers. Fixtures for brightstock during the
week were also scarce on both an FOB Asia and CFR NE Asia
basis.
Regional Asia
Group I SN150 and SN500 spot prices registered declines
while brightstock prices stood steady during the week, tracking
Despite the current price stability, some market players said

that they expect Asian brightstock prices to gradually edge
down as increasingly stiff competition posed by cargoes of
deep-sea origin such as Europe and Middle East exerted
downward pressure on Asian cargo pricing. More deep-sea
cargoes were also expected to be seen in Asia going forward,
as the arbitrage window from Europe was deemed to be open.

Page 4 of 9
On the supply front, a southeast Asian refiner was heard to be
planning to reduce its operating rates by 10 percentage points
in the near term, but specific dates were not available.
In the Taiwanese market, import interest remained muted on

the back of readily-available and competitively-priced Group II
70N, 150N and 500N from a major local refiner.
Buyers said they observed as much as a $50/tonne drop in

November offers from other northeast Asian sellers for Group
II import cargoes after crude prices failed to hold up in midweek. However, lowered offers were heard to have not only
failed to stimulate buying interest, but instead, encouraged
some buyers to anticipate further cuts in offers in the following
weeks.
Group I base oils prices largely fell during the week. SN150
and SN400 prices fell from the previous assessment in
response to the lower offers from PetroChina subsidiary Dalian
Petrochemical,
Daqing
Petrochemical
and
Fushun
Petrochemical and regional traders. However, brightstock
prices were unchanged from one week ago as supplies from
Asian refiners were tight and spot offers from Asian refiners
remained firm. Subsequently, import traders kept their BS150
prices largely stable.
Group I prices in eastern China
Grade
change
Price (CNY/tonne)
change
SN150
-200
8,350-8,400
-200
SN400
-150
8,500-8,550
-150
Brightstock
n/c
10,700-10,750
n/c
India
In the Indian market, discussions for Group I SN150 and
SN500 were heard to be ongoing at lower levels week on
week. Lower-priced talks were a result of softer offers, which
followed after crude prices dipped and offers for Russian-origin
SN150 and SN500 were reduced.
Offers for Russian-origin SN150 were heard at $750/tonne
FOB Black Sea and offers for Russian-origin SN500 stood at
$765-770/tonne FOB Black Sea.
SN500 lots of Russian-origin were subsequently heard offered
at $850/tonne CFR India, but this information could not be
confirmed immediately.
As a result, the prices of Group I SN150 and SN500 base oils
in India were assessed downwards in tandem with the broader
market by $30-40/tonne amidst the scarcity of concrete
numbers.
Talks for brightstock were subdued during the week, leading to
a stable price assessment.
GROUP II BASE OILS
Northeast Asia
In northeast Asia, continued slides in Group II spot prices
persisted on the back of poor market conditions, especially
after cuts in list prices by a few major refiners and heavy falls
in upstream crude values.
Offers made to some northeast Asian importers for November
shipment 150N cargoes stood at around $820/tonne FOB NE
Asia, while 500/600N lots were offered at around $850860/tonne FOB NE Asia. These cargoes are not subjected to
import taxes.
Some buyers also voiced uncertainty over this active price

cutting strategies, adding that their downstream lubricants
buyers were also retreating to the sidelines upon seeing the
persistent drops in base oil prices. There were base oil buyers
who said they were hoping for prices to bottom out soon and
for both the base oil and downstream lubricants markets to
regain stability.
The Chinese market was comparatively more active in import
activity, with some major importers saying that they were
seeking cargoes to replenish dwindled inventories brought
about by subdued trading activity for September and October.
Most buyers retreated to the sidelines after the downward
spiral in base oil spot prices was seen from mid-September.
Offers for 500/600N were heard around $860-880/tonne CFR
NE Asia, while offers for 150N stood at $830-870/tonne CFR
NE Asia for November-loading lots. These offer ranges are for
both dutiable and non-dutiable cargoes.
Meanwhile, Group II cargoes exempted from import duty were
largely offered at $840-850/tonne FOB NE Asia for Novemberloading 150N and 500N.
However, some distributors were heard saying that more
enquiries have emerged month on month, as some buyers felt
that prices had fallen enough to a comfortable level for
procurement. However, actual buying activity remained
cautious, as most market participants held on to expectations
of further downtrend going forward, especially if upstream
crude and gas oil prices continued their declines.
Despite so, some market players added that significant dips
were unlikely, as regional refiners were already working hard
on managing inventory levels more effectively to curb
oversupply issues.
Southeast Asia
The Group II ex-tank market in Singapore saw declines week
on week in buy-sell indications, especially after a significant
downward price reduction from a major refiner for its Group II
150N and 500N material.
The current supply overhang, along with competitive pricing
among Group II ex-tank sellers, continued to push Group II extank prices further on the downward trend.
As seen in other regions, Singapore-based buyers were also
not actively looking to buy in large quantities, as most
preferred to maintain a cautious stance and keep inventories
as lean as they can.
Offers and selling ideas from a seller were heard earlier in the
previous week at $1,020-1,030/tonne ex-tank for both 150N

Page 5 of 9
and 500/600N have softened to the high $900s/tonne ex-tank
range, as some sellers slashed offers in an attempt to liquidate
material in their inventories.
This was especially so since the possibility of a further price
decline continued to cast gloom on the market.
Most sellers said that offers for both 150N and 500N above
$1,000/tonne ex-tank were unlikely to translate into fixtures.
On the other hand, buying ideas were heard in the low
$900s/tonne ex-tank range, especially after significant offer
cuts were seen from major sellers.
In the Singapore import market, offers for November-loading
500/600N parcels were heard in the low $800s/tonne CFR
Singapore range, but further details on these offers were not
immediately available.
Most importers said that prices have already fallen enough for
them to purchase, but added that the uncertainty clouding the
near term outlook meant that they will remain buying on a
need-to basis.
Group II ex-tank Bids/buying

Singapore
(USD/tonne)
ideas Offers/selling
(USD/tonne)
150N
900-940
950-990
500N/600N
900-940
950-990
ideas
wait-and-see approach. Most buyers were expecting further

price decline, especially since the Indian market is a common
destination for deep-sea cargoes and Asian-origin cargoes,
implying stiffer competition as compared with other regions.
Talks for 500/600N were heard in a wide range at $830900/tonne CFR India. Prices for India were assessed
downwards in line with drops seen in the broader regions.
Northeast Asian refiners deemed prices at $830/tonne CFR
India as too low to translate into deals.
150N cargoes were thinly discussed, but prices were brought
down by $20/tonne in tandem with the broader market trends
as seen for northeast Asia and regional markets like Europe.
A northeast Asian Group II refiner said it did not sell any high
viscosity grade material to India, as buying ideas were too
sporadic in the Indian market for Group II material.
In the Group II base oil market, Group II 60N in east and south
China fell from the previous assessments because of the lower
offers from China National Offshore Oil Corp (CNOOC)
Huizhou. Group II 150N and 500N prices declined as import
traders continued reducing offers in the week. With more
lower-priced cargoes expected to arrive in November and the
buying sentiment from the end-users expected to gradually
weaken from December, which is the lull season for base oils,
most market participants said they anticipate Chinese
domestic prices of Group II base oils to reduce further.
Group II prices in eastern China
India
The Indian Group II market was assessed as softer compared
with the previous week, in line with the decreases seen in the
broader northeast Asian market which also supplies material to
India.
Most market participants continued to describe the Indian
market as mixed, as a wide range of numbers were heard
during the week for Group II cargoes.
Grade
change
Price (CNY/tonne)
change
60N
-50
8,350-8,450
-50
150N
-250
8,150-8,350
-150
70N
n/c
10,050-10,100
n/c
500N
-250
8,150-8,700
-150
Some sellers said that buyers were actively talking, but actual
fixtures were scarce and most buyers maintained a cautious
GROUP III BASE OILS
Group III spot prices were assessed as flat week on week, reflecting limited demand seen from buyers. Some buyers were heard to be
holding on to expectations of price decreases. Other buyers said that while they could use Group III base oils, they preferred to focus
on Group II base oils for now.
Meanwhile on the supply front, 4cst and 6cst cargoes remained snugly supplied, while 8cst cargoes were ample.
Group III base oils prices were steady during the week. Although the requirements from the downstream end-users were flat, the
supplies from Asian refiners were tight, apart from Group III 250N which was ample. Therefore, import traders maintained their offers
for Group III base oils in the week.
Group III prices in eastern China
Grade
change
Price (CNY/tonne)
change

Page 6 of 9
100N
n/c
10,400-10,600
n/c
150N
n/c
10,600-10,800
n/c
250N
n/c
9,450-9,500
n/c
Related News
List prices for Group II base oils of grades 150N and 500N from a major southeast Asian refiner were reduced further this week by
$70/tonne, in line with the current Group II price downtrend seen globally, market sources said.
This is the fourth price reduction by the southeast Asia-based major refiner since September, according to market sources.
The price decrease is expected to be effective from 6 November, market sources added.
The refiner did not comment on the price adjustment.
Meanwhile, list prices for Group I base oils in the domestic Indian market extended falls into November as India-based major refiners
cut prices in tandem with declines in the broader market, market sources said.
Persistently weak market sentiment, lacklustre demand, competition from deep-sea cargoes and recent declines observed for
upstream crude values were listed by market sources as some of the factors contributing to the price decrease.
For Group I cargoes, market players said that low viscosity grades SN70 and SN150 registered declines of Indian rupees (Rs)
1.90/litre, while SN500 prices dropped by Rs2.20/litre.
Even brightstock, which saw an increase of Rs1.00/litre back in October on the back of snug supply in the Asian market, fell as ample
quantities of European and Middle Eastern origin were available to the Indian market.
Market sources said that brightstock offers were lowered by Rs0.30/litre month on month.
Meanwhile, sources added that Group II continued to soften from the previous month, with 150N and 65Ns list prices being reduced by
Rs1.90/litre respectively.
On the other hand, 500N list prices fell by Rs2.20/litre, according to market sources.
On the production front, Chinas Sinopec Jingmen plans to conduct a turnaround at a 100,000 tonne/year Group II base oils unit in
Jingmen on 17 November after shutting its hydrogenation unit, a company source said.
The hydrogenation unit is used to improve the quality of base oils.
The company is expected to suspend operations at a 200,000 tonne/year Group I base oils unit in late November, when a 3.5m
tonne/year crude distillation unit will be closed for maintenance, the source added.
The two base oils units are expected to be restarted in the middle of January 2015, according to the source.
Despite the turnarounds, Sinopec Jingmen still has 4,000 tonnes of Group I and II base oils for sale, the source also said, adding that it
had cut November Group I base oils prices by yuan (CNY) 100-150/tonne.
Currently, Group II prices are lower than Group I prices in China, and international crude prices continued to drop, the source also said.
Sinopec Jingmen mainly produces Group I SN150 and SN400 base oils and Group II N400 base oils.
Shipping
Enquiries
6,500 tonnes Baseoil South Korea/Japan 18-22 November
1,500 tonnes Baseoil South Korea/Dongguan 25-29 November
1,000 tonnes Baseoil South Korea/Tianjin 11-18 November
3,000 tonnes Baseoil Mailiao/Merak Prompt
2,000 tonnes Baseoil Sriracha/Merak December
2,000 tonnes Baseoil Sriracha/Singapore end November

Page 7 of 9
3,000-5,000 tonnes Baseoil Singapore/Merak 21-26 November
H2 2014 Asia Maintenance Shutdown Schedule
Pending
Company
Location
Capacity ('000 tonnes/year)
Timing
Duration
Jinan Petrochemical
China
150 Group II
23 Nov
until March
Shandong Qisheng Industry & Trade
China
70 Group I
26 Dec
until mid-Feb
Dalian Petrochemical
China
450 Group I
April
40 days
Sinopec Jingmen
China
100 Group II
17 Nov
until mid-Jan
Source: ICIS Data

New Global Base Oils Capacity
Capacity ('000 tonnes/year)
Company
Location
ADNOC
Abu Dhabi, UAE
100 Group II, 500 Group III
H1 2014
Chevron
US
1200 Group II
Q1 2014
CNOOC
Taizhou, China
600 Group II
2015
ExxonMobil
Singapore
Group II expansion (actual capacity not disclosed)
2015
ExxonMobil
US
Group II/II+ expansion (actual capacity not disclosed)
2015
Hyundai and Shell Base Oil Co
South Korea
650 Group II
H2 2014
Neste Oil
Not disclosed
100-200 Group III
2017
Sasol
Lake Charles, Louisiana
450 GTL
2019-2020
Sinopec Maoming
Guangdong, China
200 Group II Expansion/Upgrade
2014
Sinopec Yanshan
Beijing, China
240 Group II
Mar 2014
SK Lubricants Repsol
Spain
660 Group III
H2 2014
Tatneft
Russia
50 Group II, 50 Group III
TBC
Timing
*Approximate conversion to tonnes from bbl/day
Source: ICIS data

($1 = CNY6.11)
($1 = Rs61.51)
Additional reporting by Whitney Shi
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Base Oils (Asia Pacific) 2014-11-07

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7th November 2014

Base Oils (Asia Pacific)

Click for Price History

SPOT PRICES - GROUP I BASE OILS

One year ago

SN 150 FOB ASIA (EXP)

SN150 CFR INDIA

SN 150 CFR N.E. ASIA

Click for Price History

SPOT PRICES - GROUP II BASE OILS

One year ago

150 N CFR N.E. ASIA

150 N CFR INDIA

Click for Price History

SPOT PRICES - GROUP III BASE OILS

One year ago

Click for Price History

RELATED OIL PRODUCT PRICES (SPOT)

One year ago

softer discussions following hefty drops in upstream crude

Base Oils (Asia Pacific)

Base Oils (Asia Pacific)

softer discussions heard. Talks of some deals heard done,

According to market players, heavy grade list prices were

Some added that while it is true that Group I is facing

Meanwhile, the price cuts for brightstock varied at an even

Selling ideas from a regional refiner were heard at around

On top of reductions in Group I list prices, the softer

A separate southeast Asia refiner was heard to have offered

Despite the current price stability, some market players said

Base Oils (Asia Pacific)

In the Taiwanese market, import interest remained muted on

Chinese domestic market

Buyers said they observed as much as a $50/tonne drop in

Some buyers also voiced uncertainty over this active price

Base Oils (Asia Pacific)

Group II ex-tank Bids/buying

wait-and-see approach. Most buyers were expecting further

Base Oils (Asia Pacific)

Base Oils (Asia Pacific)

Capacity ('000 tonnes/year)

Shandong Qisheng Industry & Trade

Source: ICIS Data

Abu Dhabi, UAE

100 Group II, 500 Group III

Group II expansion (actual capacity not disclosed)

Group II/II+ expansion (actual capacity not disclosed)

Hyundai and Shell Base Oil Co

100-200 Group III

Lake Charles, Louisiana

200 Group II Expansion/Upgrade

660 Group III

50 Group II, 50 Group III

*Approximate conversion to tonnes from bbl/day

Source: ICIS data

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Base Oils (Asia Pacific)

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Base Oils (Asia Pacific)

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