European deep-sea routes are still strong, while U.S. routes are without much change. Asia markets are quieter with Chinese New Year approaching. However, base oils are star performers on almost every route, as higher crude oil prices may be spurring purchases. U.S. Gulf As expected, rates did rise on the U.S. Gulf-to-Far East route and rates of over $60 per metric ton are being bandied about for 5,000-ton parcels going from Houston to Mainport Far East. However, styrene is no longer the mainsta...

Bullseye is the target of legal retribution again. This week, it was ordered by a Michigan circuit court to pay the $711,415 fine issued in 2013 for violating the states weights and measures laws. The Illinois-based motor oil merchant already owes the American Petroleum Institute almost $2 million as a result of a 2013 lawsuit, and its products have been banned by various states in the past few years. After declaring that Bullseye-branded motor oils could cause lasting damage to engines in 2013,...

Sasol will delay the final investment decision on a 96,000 barrels per day gas-to-liquids plant in Louisiana as part of a plan to conserve cash in response to lower international crude oil prices. The company first announced plans in late 2012 for the Lake Charles, La., GTL plant, which would make diesel and other refined products, including base oil for lubricants. The timing of the decision will take into consideration progress made with the execution of the companys world-scale ethane cracker...

Russian automotive lubricants consumption is poised to grow around 3 percent annually, reaching as much as 563,000 tons in 2020, a study by consultancy RPI found. Russia consumed 455,000 tons of automotive lubes in 2013, according to Moscow-based consultancy RPIs study, Actual Consumption of Engine Oils by the Russian Vehicle Fleet and Forecast for Its Development until 2020. Market segments covered in the study include passenger cars, light commercial vehicles, heavy-duty vehicles and buses. Th...

Champion Oil announced price cuts of up to 3.5 percent for selected SKUs of branded motor oils and other lubricants, effective Feb. 6. As we are moving through our finished goods in stock, our costs on select high-volume products that we manufacture have seen a cost decrease due to the drop in some base stocks, Karl Dedolph III, Champions director of global sales, told Lube Report. We have not seen drops in additives or add-packs. The Clinton, Mo.-based company manufactures primarily synthetic a...

SK Lubricants posted a fourth-quarter operating profit of 71.4 billion South Korean won (U.S. $65 million), up 26.4 percent from 56.5 billion won in 2013s fourth quarter. For the full fiscal year, operating profit reached 290.3 billion won, up 86.3 percent from 155.8 billion won for 2013. Revenue for the fourth quarter reached 799.1 billion won, up 8.7 percent from 735.5 billion won a year earlier. For the full year 2014, revenue reached nearly 3 trillion won, up from 2.8 trillion during 2013. I...