Volume 1 Issue 47
Space from the U.S. Gulf is gradually draining away for the rest of the month due to improved demand. November space is tighter within Asia too. European markets are busier than previously, but lack of space is not an issue.-by Adrian Brown
A HollyFrontier subsidiary will acquire Sonneborn from private equity firm One Equity Partners for $655 million cash under an agreement announced yesterday. HollyFrontier officials said the addition of Sonneborns specialty products is another step in diversifying its product mix with a shift toward finished products.
Lubricant distributor Lube-Tech opened an expansion of its engine testing facility in Golden Valley, Minnesota, this week. The company uses the facility both for in-house testing and to provide a variety of testing services to outside customers.
Calumet Specialty Products Partners, L.P. posted a significant net loss and decline in sales, while Cosans Moove lubricants segment saw increases in net revenue and net income.