Volume 1 Issue 34
None of the main markets can claim to have been busy over the past week. At best, the vessel supply to demand picture in each region has not worsened, and it could even be said to have tightened slightly in a few areas, but overall, freights remain weak.-by Adrian Brown
A U.S. district court approved Thursday a request by defunct Canadian gold miner Crystallex International Corp. to seize control of shares from a Petrleos de Venezuela, S.A. subsidiary that owns Citgo. Legal analysts said the ruling casts doubt on the future of Citgo and its lubricant business - estimated by an industry consultant to be seventh-largest in the United States.
By the beginning of September, Curacaos Isla Refinery plans to enter negotiations with a potential partner wanting to become manager of the Caribbean refinery. Isla and Curacaos government are currently weighing proposals from 15 potential partners.
Calumet Specialty Products Partners LP posted a net loss, Afton Chemicals operating profit declined and Cosans Moove lubricants segment reported increased profit for the second quarter.