There has not been much change this week – Asia continues to slowly reactivate, Europe is stable but not as seasonally busy as usual, and the U.S. is in a holding pattern. Americas Styrene has begun to appear on European-bound routes again, but only for the second half of November. All the same, there is not much open space left in the first half of the month. Rates have stabilized and are poised to strengthen should demand continue to build. Owners are inclined to take the juiciest cargoe...

Gunvor Group plans to shut down a crude distillation unit and API Group I base oil plant at Kuwait Petroleum Internationals refinery in Rotterdam, Netherlands, upon takeover of the refinery, according to a Dutch workers union official. KPI and Gunvor Group are in the final stage of negotiations on the sale of the refinery. The sites Group I base oil plant has production capacity of 4,650 barrels per day. Gunvor said acquiring the Europoort refinery would enhance its existing refining operations,...

Safety-Kleens parent Clean Harbors has carved out its base oils and lubricants business under the new name Kleen Performance Products. All of rerefiner Safety-Kleens API Group II base stocks and EcoPower finished lubricants now fall under the new unit, which is based in Richardson, Texas, and headed by Safety-Kleens former president Jerry Correll. Clean Harbors announced the change Monday, explaining in a press release that Kleen Performance Products will encompass research and development and d...

Profits were up for Afton Chemical, SK Lubricants and BPs lubricants business, while sales were down for Heritage-Crystal Cleans oil business segment, all in the third quarter, compared to the year-earlier period. Afton Chemical Afton Chemical, NewMarket Corp.s petroleum additives segment, reported an operating profit of $100.5 million for the three months quarter ending Sept. 30, up 6.6 percent from $94.3 million in the year-earlier quarter. The increase was mainly due to lower raw material cos...

The Federal Trade Commission approved a final consent order against BMW of North America for hinging warranties for its Mini passenger cars on the use of Mini parts and Mini dealers for maintenance and repair work. On March 19, the FTC issued an administrative complaint against the German automakers North American subsidiary. The agency alleged that BMWs Mini Division violated the tie-in provision of the Magnus-Moss Warranty Act of 1975 by stating in Mini vehicle owner manuals, beginning with 20...

Fire last week at distributor Tekhnorynok Avtomasels warehouse in Bryansk injured none, but caused possibly several million rubles in damage, according to the Russian Emergencies Ministry. The incident occurred during working hours on Oct. 21 at the 1,500 square meter lubricants and auto parts warehouse located in a residential neighborhood in Bryansk, which is in western Russia, bordering Belarus and Ukraine. Around 40 firefighters and 14 firefighting vehicles were on the scene. With special [f...

Bridgestone Retail Operations plans to acquire Pep Boys in an $835 million deal that will combine two large U.S. chains of automotive after-market service providers. The transaction is expected to close at the beginning of 2016. Following completion of the transaction, Pep Boys will be wholly owned by and operated under Bridgestone Retail Operations LLC. Philadelphia-based Pep Boys has more than 7,500 service bays in more than 800 locations in 35 states and Puerto Rico. The company offers tires,...