Volume 16 Issue 37

SSY Base Oil Shipping Report

A few faint signs in the shipping market indicate that summer is finally coming to an end, but therell need to be several weeks of sustained demand before theres a major impact on tonnage availability. U.S. Gulf The Far East destination may be one of the routes that is possibly at a turning point. September space is limited to a handful of ships, each with small amounts of space and owners that are unwilling to reduce rates further. A stand is being made, with ideas for 5,000-ton cargoes higher ...

Puralube, NexLube Team Up in Florida

Puralube and NexLube Tampa last month formed joint venture Puraglobe Florida LLC, which plans to complete and commission NexLubes API Group III rerefinery in Florida by the end of 2018. Discussions of the deal came to light in March, when the Port Tampa Bay board approved transfer of a lease agreement from NexLube Tampa LLC to Puraglobe Florida LLC – contingent upon completion of a joint venture between NexLube and Puralube. The companies signed the JV agreement last month. The refinerys A...

Ineos Plans 2nd Largest PAO Plant

Ineos Oligomers said yesterday it will build a 120,000 metric tons per year low viscosity polyalphaolefin facility at an undisclosed location. When it streams in early 2019, it will be the second-largest such plant for the company and worldwide. Ineos Oligomers USA LLC announced the plans yesterday without disclosing the estimated cost of the project, which it said will be the worlds largest single-train, low-vis PAO unit. A spokesman confirmed that the company is still evaluating options for it...

Ashland Outlines Valvoline IPO

As part of its spin-off of Valvoline Inc., Ashland hopes to raise up to $690 million in an initial public stock offering that constitutes at least a 15 percent stake in the new company. The IPO on the New York Stock Exchange would put up at least 30 million shares of common stock, with an additional 4.5 million shares available in case of over-allotments. Ashland would retain 170 million shares of Valvoline, which will be listed under the symbol VVV. In September 2015, Covington, Kentucky-based ...

Shell May Divest in Argentina

As part of strategy to raise cash, Royal Dutch Shell last week announced that it is reviewing the possible sale of its downstream assets in Argentina, including one of the countrys largest lubricant businesses and a base oil plant in Buenos Aires. Shell holds an estimated 20 percent to 25 percent of Argentinas lubricant market, according to Claudio Pereira, director of Brazilian consultancy LubeKem. As a result, a sale could have a significant impact on the market, depending on buyer and other d...

Rerefiner Gets Carbon Credit Approval

Hydrodec of North America now generates carbon offsets through rerefining of used transformer oil, thanks to approval of its technology by the American Carbon Registry. This creates an incremental revenue stream for the company and allows it to receive carbon credits for its output. The approval is the final stage in a process that began prior to re-commissioning of its Canton, Ohio, plant last year. The company can sell the credits on the voluntary carbon offset market to other companies, such ...

Briefly Noted

Austrias Andritz Frautech Srl will supply solid-liquid separators for coolants, washing fluids and industrial oils to lubricants and emulsions provider Conqord Oil, an agent of Q8Oils. Petronas opened its first auto service station in Russia last week. The Garage, in Voronezh, offers quick oil changes using the Malaysian suppliers branded products. Solenis LLC will acquire Norways Nopco Holding AS, which supplies specialty chemicals, including additives and lubricants, to the pulp and paper manufacturing market and other industries.