Shipping demand globally has been weak for several weeks, causing rates to decline in both the U.S. and Europe while Asian rates appear to have bottomed out. U.S. Gulf After a bull run that has lasted since November, rates for shipping to the Far East have been gradually softening. By no means is it totally quiet on this route, and there is a sense that many charterers are deliberately holding off for as long as possible before entering the market in order to keep the downwards momentum going. ...

HOT SPRINGS, Va. – Global demand for greases used in industrial applications is expected to remain nearly flat through 2019, Annie Jarquin of Kline & Co. reported at an industry meeting on Monday. The overall outlook to 2019 shows only minimal overall volume growth; therefore, businesses need to focus on value and segment growth, she told attendees at the National Lubricating Grease Institute Annual Meeting. In a flat market, companies must focus on their key strengths and capabilities...

BASF began making polyalkylene glycol-based base stocks and industrial lubricants at its new facility in Germany in May, positioning the company to take advantage of growth opportunities in the burgeoning PAG market. In May 2014, BASF announced it would construct the facility in Ludwigshafen, Germany, at a cost of more than 10 million (then U.S. $13.6 million) at its integrated petrochemical manufacturing complex there. The plant has successfully been started up in May and is producing a wide ra...

MOSCOW – The Turkish lubricant market is recovering from rampant illegal trade of base oil and is in a healthier state than in previous years, with OMV Petrol Ofisi the leading domestic lube marketer and Shell the top foreign lube brand marketer, an official with a Turkish lube blender said at an industry event last month in Moscow. Turkeys production of industrial lubricants is higher than that of automotive lubricants which shows that the countrys industrial and construction sector is bo...

Lubricant distributors Boyer Petroleum, Moore Oil Co. and the distribution arm of Lubrication Technologies merged to form Lube-Tech & Partners LLC, with the aim of expanding geographic coverage and reaching an annual sales volume of over 20 million gallons of lubricants and chemicals in the Upper Midwest. The merger of the three companies will provide products and services to customers primarily in Minnesota, Wisconsin, Northern Illinois, Iowa, Eastern North Dakota, South Dakota and Nebrask...

The U.S. Senate last week unanimously passed legislation to reform the Toxic Substances Control Act and sent the bill to President Barack Obama for him to sign into law. Titled the Frank R. Lautenberg Chemical Safety for the 21st Century Act, bill H.R. 2576 passed in the House of Representatives by a 403-12 vote on May 24. The Lautenberg Act merges policy priorities from S. 697, which passed the Senate in December, and H.R. 2576, which passed the House last June. TSCA is the primary law governin...