Home November 27, 2019

November 27, 2019

Volume 2 Issue 48

IMO 2020 Approaches

With the IMO 2020 regulation on marine fuels scheduled to take effect in just over a month, vessel operators and ports are still preparing for compliance. Industry insiders say some shipping will require more time to conform to the new requirements. Analysts also predict fallout for the base oil market, saying the regulation will probably force some plants to close.

Calumet Fined for Inaccurate Earnings Report

The Securities and Exchange Commission on Nov. 25 charged Calumet Specialty Products Partners L.P. with posting an inaccurate and misleading earnings release in 2017. Without admitting or denying the findings, Calumet consented to entry of the SECs order and agreed to pay a fine of $250,000 as part of a resolution to the investigation.

Acquisitions Boost Parklands Lubes Sales

Canada-based distributor Parkland Fuel Corp. reported 95 million Canadian dollars (U.S. $71.4 million) in revenue for its lubricants segment for the three months ending Sept. 30 - boosted by revenue from distributor acquisitions last year and this year - up 102 percent from CA$47 million in 2018s third quarter.

Briefly Noted

Valvoline is implementing San Francisco-based Alloys enterprise supply chain solution, which will use software to provide better visibility, reporting, analytics and alerting, while scaling the capability across retailers and Valvoline Instance Oil Change centers.

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