Deep sea markets from Europe are under pressure, freight rates look weaker on almost every trade lane out of the U.S., and Asia markets were quiet due to Golden Week holidays. U.S. Gulf The market out of the U.S. has been grim for ship owners. Only the transatlantic eastbound route produced any noteworthy cargoes (products such as benzene and pyrolysis gasoline that would normally be shipped over from Europe to the U.S.). However, the rates fixed have been lower, with mid-$40s per metric ton hea...

MUMBAI, India – Lukoil tabled plans to upgrade its base oil plants, in deference to a growing oversupply of API Group III oils. Given the current conditions of the global market, we are not proceeding with these plans at this time, Maxim Donde, general director of Lukoil lubricant arm LLK-International, told the ICIS Indian Base Oils & Lubricants Conference in Mumbai April 29. For several years the Russian energy giant had said it intended to expand and upgrade at least two of its thr...

Cam2 International purchased a Vicksburg, Miss., blending and packaging plant from Shell that will produce over 100 million gallons of finished lubricants per year and serve as its new corporate headquarters. Without disclosing costs, the Golden, Colo.-based lubricants manufacturer announced Monday that it purchased the 93,000 square feet facility – situated on 19 acres with access to the Mississippi River – as a geographically strategic move. After careful consideration, our team co...

Tatneft and Nizhnekamskneftekhim expressed readiness to resume polyalphaolefin and finished oil production at their joint ventures idled plant in Nizhnekamsk, Tatneft told Lube Report. However, it is still not clear when exactly the production will restart due to some unsettled financial obligations between the partners. There are ongoing procedures for settlement of the [plants] debts and subsequent resumption of PAO and finished oil production, Gabbas Ilyasov, the companys deputy director for ...

Fuchs Petrolub and Ashlands Valvoline business each posted increases in first quarter profits and sales compared to year-earlier numbers. Heritage-Crystal Clean reported an increase in sales and a first quarter operating loss. Chemturas petroleum additives segments first quarter net sales were up from a year earlier. Fuchs Fuchs Petrolub Group posted net income of 52.8 million (U.S. $73.3 million) for the first quarter, up 2.3 percent from 51.6 million in the year-earlier quarter. The Mannheim, ...

DUBROVNIK, Croatia – The food-grade lubricants industry can help address concerns about mineral oil hydrocarbons getting into food by developing clear global regulations and fast, affordable test methods, a speaker said at the European Lubricating Grease Institutes annual meeting here. Food is emotion, said Andre Adam of Fragol GmbH & Co. KG, Mlheim, Germany. It has our attention, many times per day, every day. Unfortunately, he added, food and more specifically the health related iss...