|GLOBAL OIL PRICES ARE DRAMATICALLY RISING |
We are currently finding ourselves in one of the most challenging periods in our industry’s history.
A world-wide shortage in the availability of base oil is being compounded by rising shipping costs, a drop in vessel movements and a shortage in containers, adding upward pressure to already surging prices in all key markets. All this means that blenders are having difficulty in securing sufficient supplies to sustain normal operations.
Chemical and raw ingredient shortages continue to be a global challenge for the entire oil and chemical industry with Force Majeure in place in a number of areas and many costs continuing to rise. Packaging supply also continues to be severely disrupted and we are faced with longer lead times. This is being compounded by extreme tightness in many shipping routes with both box and ISO container availability very restricted, resulting in delays to the supply of additives, most of which are transported in drums.
Unfortunately although we have tried to absorb the massive increase in costs as much as possible we have had no alternative but to pass at least part of these increases on to you, our valued customer.
These increases are affecting all oil companies, not just RAVENOL.
Thank you for your understanding through this very difficult period
With increasing shortages of raw materials, extended lead times and further price rises on the horizon we strongly suggest you place your orders NOW.
You can read more about the increasing problems facing the industry HERE