Rise In Basic Oil Imports In Brazil Expected For 2024

Written by Corporativo

Published on 23/03/2024 at 22:09

Foto: Rodrigo Dutra

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A Significant Boost in Trade and Infrastructure

Brazil is expected to continue witnessing robust growth in the import of base oils in 2024, sustaining an upward trend observed in the previous year. The National Agency of Petroleum, Natural Gas and Biofuels (ANP) registered a 9.46% increase in imports of these products in 2023, reaching a total of 929,514 m³, compared to the 849,153 m³ imported in 2022. This increase reflects not only the growing demand from the sector but also the positive impact of strategic investments in national port infrastructure.

The ports of Rio de Janeiro and Santos, in particular, have been the focus of significant improvements to facilitate the handling of the large volumes of base oils arriving in the country. In this context, the role of ICONIC stands out, a leader in the lubricants market, which has made crucial investments to increase the import capacity of the Port of Rio, adapting it to accommodate Panamax-type vessels.

Innovations and Impacts in Brazilian Ports

ICONIC has taken the initiative to increase the draft at the Port of Rio de Janeiro, a measure that promises to double the volume of base oil traded by the company in the next two years, compared to 2023. This expansion not only improves maneuverability conditions for larger vessels but also ensures a more stable and reliable supply of this essential raw material for the lubricants industry.

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The Future of Base Oil Imports in Brazil

Brazil remains one of the world’s largest importers of Group II and III base oils, a trend that is expected to persist due to the lack of domestic production of Group III and the limited production of Group II, in light of demand. The sector’s recovery post-pandemic, adjustments in costs, and overcoming international logistical challenges have been essential to meet global demand.

Marcelo Guimarães, executive manager of ICONIC BaseOil, emphasizes the importance of maintaining a continuous flow of imports of these oils, crucial for producing high-quality lubricants used in a wide range of industrial and automotive applications. The dependence of more than 15 strategic sectors of the national economy, including agribusiness, on the import of these inputs highlights the vital role they play in supporting the operational capacity of the national industry and the performance of the country’s vehicle fleet.

With recent investments and the ongoing adaptation to market demands, Brazil is well positioned to continue growing as a key hub for base oil imports, driving reindustrialization and strengthening the national economy.

Source:

Rodrigo Dutra

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Rise In Basic Oil Imports In Brazil Expected For 2024

A Significant Boost in Trade and Infrastructure

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