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Asia-Pacific refiners' base oil business is under pressure
Over the past decades, refiners in the Asia-Pacific region have played an important role
in providing base oils to the global lubricants market.
One analyst said the base oil business of Asia-Pacific refiners is under pressure
due to new capacity additions in other regions.
Argus Consulting recently said that base oil suppliers in the Asia-Pacific region will have to sell more base oil products
in the region.
Iain Pocock, Global Editor of Base Oils at Argus Consulting, said: "In 2017, Asian base stocks suppliers exported mainly to Europe, India, the United Arab Emirates and the Americas
.
In 2018, Asian base oil suppliers will export mainly to the European market, and exports to the Middle East and India will decrease
.
Demand for Asian base oils will also decrease in 2019, leaving these supplies in Asia
.
”
The Indian injection molding machine market has great growth potential
Stimulated by the growth of the automotive and packaging industries, the global injection molding machine market is growing rapidly
.
Growth in the Asia-Pacific region is evident, with India being the biggest bright spot
.
The latest report from Interconnection Consulting pointed out that during 2016~2021, the global injection molding machine market will grow rapidly at an average annual rate of 2.
2%, and the market is expected to be worth $5 billion
by 2021.
Among them, India's performance is very outstanding: benefiting from the strong growth of the economy and automobile industry, the growth rate of India's injection molding machine market reached 9% in 2017; At present, the Indian injection molding machine market has accounted for about 49% of the market share of the overall machinery market in India; India will need 11,000 new injection molding machines by 2021 to meet the growing demand
.
Greenhouse gas emissions from shipping will be significantly reduced by 2050
The International Maritime Organization (IMO) has announced a preliminary plan to peak greenhouse gas emissions for the shipping industry as soon as possible, reducing total greenhouse gas emissions from shipping by more than
50% by 2050 compared to 2008 levels.
The plan also calls for an average reduction of CO2 emissions per transport job in international shipping by more than 40 per cent by the end of 2030 and by 70 per cent
by 2050.
For some countries, the plan may not be radical
enough.
The Marshall Islands and other countries have argued that only a 100 percent reduction in shipping emissions by 2050 would be in line with the 2015 Paris Agreement, which means limiting global temperatures to 1.
5 degrees Celsius above
pre-industrial levels.
Sino-US trade frictions may impact global oil demand
The International Energy Agency (IEA) recently said that the escalation of Sino-US trade frictions may seriously impact the strong global demand
for oil.
The IEA's monthly oil market report expects global oil demand to grow by 1.
5 million b/d this year, but warns that potential trade tariffs between China and the United States risk lowering that
expectation.
The IEA estimates that a 1% reduction in global GDP growth would reduce oil demand growth by about 690,000 b/d
.
The IEA believes global oil demand will reach 99.
3 million b/d this year, which will offset the impact of the surge in U.
S.
shale oil production and help maintain market balance
.
