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Lukoil Marine Lubricants opens office in Hong Kong skyscraper

Central Plaza is the third-tallest building in Hong Kong.

Updated on 14 Jul 2016 13:25 GMT

Lukoil Marine Lubricants has opened a new branch office in Hong Kong.

The recently held official opening ceremony was attended by more than 50 guests from Hong Kong and Taiwan as well as Lukoil Marine's managing directors June Manoharan and Jan Thiedeitz .

Commenting on the news, Mrs. Manoharan said: "With the new office we are taking into account the commercial and economic development of the region and will further strengthen our presence in Asia."

James Lee, Regional Sales Director Greater China at Lukoil Marine and head of the new office, remarked: "This way we are even closer to our customers in Hong Kong, China and Taiwan."

Lukoil's office building [pictured] is located centrally on Hong Kong Island; its office is on floor 52/F of Central Plaza, overlooking Victoria Harbour and 'The Peak'. Built in 1992, the 374-metre, 78-storey building is the third-tallest tower in Hong Kong and the 32nd-tallest in the world.

Lukoil Marine Lubricants - a subsidiary of Russian oil giant Lukoil - was founded in 2007 as a standalone sales and marketing business focusing on the production and sales of marine lubricants worldwide. The company supplies lubricants in more than 900 ports in 74 countries.

Lukoil claims to have an 8.5 percent share of the global marine lubricants market. "Every twelfth sea ship uses Lukoil lubes," the supplier said towards the end of last year.

The cruise liner Queeen Mary 2 and the container ships Borzan and MSC Oscar are three vessels that Lukoil says use its maritime oils.

Last November, Lukoil Marine Lubricants was named the winner in the 'technical innovation' category at the annual SeaTrade Maritime Awards ceremony, held in Dubai. The company was recognized for its contribution to the development of lubricants for the needs of the maritime industry. In particular, Lukoil developed a new series of biodegradable synthetic oils, which are said to meet the strictest requirements and safety standards.

At the Hong Kong office launch event, Lukoil showcased it latest iCOlube and Environmentally Acceptable Lubricants (EAL) technology.

The iCOlube system is designed to optimize vessel engine performance and efficiency. It tailors cylinder oils to prevailing engine requirements and fuel type. According to Lukoil, the feed rate always stays at an optimum level while only the fuel sulphur content needs to be entered. This way, it maintains best engine conditions, reduces oil costs, saves fuel and is environmentally friendly, Lukoil says.

The Russian supplier's EAL range of biodegradable, minimally toxic and non-bioaccumulative lubricants are: PLANTOSYN HVI, PLANTOGEAR S, PLANTOGEL 2S (EAL), NAVIGREASE BIO 2 and NAVIGREASE BIO 0.

Lukoil's expansion in Asia comes during a period of stiff competition in the region. Exactly a year ago, another key lubricant player, Total Lubmarine, opened its largest lubricant blending plant in Singapore. The facility has an annual production capacity of 310,000 metric tonnes. At the time, Total said that higher demand in the Asia-Pacific region (which represents around 25 percent of its overall lubricant sales) had been a significant factor in its decision to open the plant.

Another key player, Shell Marine Products (SMP), confirmed in April that it had expanded its network by 70 ports in less than a year. In Asia so far this year, the company has expanded its product availability in India, Japan, South Korea and Taiwan.

Related Links:

Lukoil launches marine lubricants
Lukoil Marine Lubricants launches barge in Singapore
UASC and Lukoil sign lubricants agreement
Lukoil recognized for its 'technical innovation'
Lukoil Marine Lubricants launches iCOlube in the UK
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