Taiwan’s CPC-Shell to resume spot base oil supply to China in Aug

19 July 2013 09:14  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC-Shell Lubricant plans to resume spot supply of Group I base oils to China in August, a Chinese importer said on Friday.

The supply will all be of high-viscosity grades, including 1,000 tonnes of SN500 and over 3,000 tonnes of BS150, the importer said.

The price of SN500 was at $1,140/tonne (866/tonne) CFR (cost & freight) China and BS150 was at $1,250-1,260/tonne CFR China, added the importer.

Major regional Group I producers started to offer spot cargoes to China in July in view of the strengthening demand and profitable margins of high-viscosity grades, industry sources said.

CPC-Shell Lubricants has halted its spot supplies to China since March 2013 .

The company’s 120,000 tonne/year low-viscosity Group I base oil production line remains shut for maintenance, with the restart schedule unknown.

($1 = 0.76)

By: Whitney Shi
+65 6780 4359

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