Volume 12 Issue 32

SSY Base Oil Shipping Report
August 8, 2012There has been a slight upwards shift in U.S. demand, but rates remain weak. Europe is steady with no major changes either way. Asian markets also look steady. U.S. Gulf of Mexico A quick glance through the open positions here is sufficient to realise that there has been a moderate amount of cargo booked over the past week. By no means has it been enough to cause a tightening of space, since in a large number of cases the ships have only found enough work to last a week or two. It is perhaps ...

Fires Disrupt Chevron, JX Nippon Refineries
August 8, 2012Fires at Chevrons Richmond, Calif., refinery and a refinery in Mizushima, Japan, caused disruptions at both plants, although the long-term impact at each remains to be determined. A massive fire broke out Aug. 6 at the Chevron Richmond Refinery. Officials are still working to determine the cause of the fire, but said the blaze was in their No. 4 Crude Unit, which processes diesel oil. Sources have not determined or confirmed whether this incident will or will not impact production of base oils....

Lube Capacity Upped Down Under
August 8, 2012Gulf Western Oil is investing more than AU $10 million (U.S. $9.8 million) to construct a lubricants blending facility in Australia that will have 60 million liters per year capacity and more than double the blenders warehousing. The company hopes to be producing lubricants between the third and fourth quarter of 2013 at the new 5,500 square meter (59,200 square feet) facility in St. Marys, New South Wales, on the outskirts of Sydney. Gulf Western Oil is owned by brothers Ben Vicary and Andrew...

Brazilian Marketer Extends Reach
August 8, 2012Cosan signed a partnership agreement with South Koreas S-Oil to distribute Ultra-S API Group III base oil in Brazil. With this agreement, Cosan LE will offer a complete line of base oils within the Brazilian market, a spokesman for Cosan Lubrificantes e Especialidades S.A., part of Cosan Group told Lube Report. The company currently markets ExxonMobil Group I and II base stocks in Brazil. It estimates that Group III represents around 6 percent of Brazils total base oil consumption in 2012. ...

Samuel Cooke Lives On under Crown
August 8, 2012Crown Oil UK acquired key assets of lubricants distributor Samuel Cooke and Co. for an undisclosed amount. The distributors assets were earmarked for sale after going into administration July 23. Samuel Cooke distributed lubricants from three locations in the United Kingdom: Padiham, Barnsley and Stanlow. Weve only taken over one – thats the Padiham location, Matt Greensmith, managing director of Bury-based Crown Group, told Lube Report, adding that a small number of Samuel Cooke employe...

Chemoil Buys Into N.Y.s Chemlube
August 8, 2012Marine fuel supplier Chemoil Energy Ltd. acquired a 50 percent stake in Chemlube International and sister company Sopetra S.A. The deal provides the latter two companies $16.4 million in seed money and could lead them to enter the marine lubes business. Both sides think we may be able eventually to develop some synergies, Chemlube Senior Vice President Vin Gilooley told Lube Report. Its possible that at some point we would start making marine lubricants. Headquartered in Singapore, Chemoil sou...

Calumet, Fuchs Post Strong 2Q
August 8, 2012Calumet Specialty Products Partners and independent lubricant blender Fuchs Petrolub each posted increases in net income and sales for the second quarter, compared to the year earlier quarter. Calumet reported $65.7 million net income for the quarter ending June 30, compared to a $7.7 million net loss in 2011s second quarter. Sales for Indianapolis-headquartered Calumet reached nearly $1.1 billion, up 48 percent from $733.8 million in the year earlier period. Our quarterly results were driven...