Volume 15 Issue 29

SSY Base Oil Shipping Report

There has been a more summery feel to the markets this week, and activity has been notably slower in Asia. Some areas in Europe have seen a slight reduction in demand and lower freight levels, whereas rates from the United States are basically unchanged. Americas All the usual styrene traders have been searching out ships both in July and August which can take styrene from the U.S. Gulf across to Europe. However, space is scarce and opportunistic owners are quoting levels in the mid $90s per met...

Sluggish Forecast for North America

North Americas finished lubricants demand will change little, with 0.3 percent compounded annual growth from 2014 to about 2.8 billion gallons in 2019, consultancy Kline & Co. projected. In 2014, the overall finished lubricants market in North America (the United States, Canada and Mexico) amounted to 2.7 billion gallons, Kline estimated, second to Asia-Pacific. We expect the industrial segment to gain market share, while the consumer automotive segment shrinks over the forecast period, Sus...

Modrica Unveils New Blending Plant

Rafinerija ulja Modrica recently launched a new blending plant in Modrica, northern Bosnia and Herzegovina. The 13 million (U.S. $14.2 million) blending plant is located at the site of the companys base oil plant. The blending plant was developed during the past two years, the company said in its July 15 news release. With this investment we close a whole technological circle consisting of hydrocracked [API] Group II and Group III base oil production and finished lubricants made in a fully autom...

Gulf Petrochem Sets Sight on East Africa

United Arab Emirates-based Gulf Petrochem expanded into East Africa with its recent acquisition of Essar Petroleum East Africa Ltd., which was renamed Aspam Energy. According to Gulf Petrochem, the goal is to use Kenya as a hub for its expansion into East Africa and other parts of the continent. G.V.K. Raju, regional head for East Africa, Aspam Energy, said, Our established office in Nairobi will act as a springboard to Gulf Petrochem for the sale of downstream products especially fuel oils, bas...

Univar Buys Chemical Associates

Illinois-based chemical distributor Univar Inc. announced last week that it acquired the assets of oleochemical manufacturer and distributor Chemical Associates Inc. Financial terms of the acquisition were not disclosed. Chemical Associates specializes in blending, mixing and packaging formulated oleochemical products and supplies customers from 14 distribution centers throughout the United States. It offers packaged and bulk volumes in industries such as lubricants and greases, metalworking, po...

Briefly Noted

Fuchs Petrolubs supervisory board appointed Dagmar Steinert chief financial officer effective Jan. 1, 2016, succeeding retiring CFO Alexander Selent, and renewed Executive Board Chairman Stefan Fuchs contract until June 30, 2021. Pilot Chemical formed a search committee to identify a new president, as current President and Chief Operating Officer Pam Butcher requested an orderly transition to have more time to pursue other interests. Once a successor is in place, Butcher will join Pilots board of directors.