Volume 16 Issue 45
SSY Base Oil Shipping Report
November 9, 2016Activity has been subdued in most main shipping hubs, causing some ship owners to hope that business returns to normal once the uncertainty over the United States presidential elections comes to an end. U.S. Gulf Traders still maintain that freight levels are too high on the Far East route, whereas ship owners remain convinced that there will be an increase in demand over the next couple of weeks and therefore they are clinging to rates that are still in the $50s per metric ton. There is unfortu...
Ford Shuns New API Heavy-duty Oils
November 9, 2016In a surprise move, Ford has issued a new diesel engine oil service fill specification, WSS-M2C171-F1, covering all Ford diesel engines. This specification specifically disallows the use of API CK-4 and FA-4 categories, which were adopted by the auto and lubricant industries earlier this year. Fords specification identifies API CJ-4 category oils issued before 2016 as acceptable for use in its vehicles until the Ford 6.7L diesel engine test is completed and approved by ASTM. Ron Romano of Ford n...
Q3 Earnings Summary
November 9, 2016Ashlands Valvoline segment posted increased operating income, Calumet Specialty Products Partners posted a net loss, Fuchs reported higher net income and Clean Harbors made more money on rerefined and blended products, compared to a year earlier. Valvoline Covington, Kentucky-based Ashland reported $96 million in operating income for its Valvoline segment during the three months ending Sept. 30 (the fourth quarter of Ashlands fiscal quarter), up 10.3 percent from $87 million in the year-earlier ...
Wichita JV Launches, Plans Blending Plant
November 9, 2016Lubrication Engineers Inc. has begun planning a U.S. $35 million manufacturing facility near its headquarters in Wichita, Kansas, with joint venture partner Kyodo Yushi USA Inc. The JV, known as Kyodo Yushi Manufacturing Americas LLC, will build a 10,700 square meter plant on 15 hectares of land in north Wichita, according to the citys office of urban development. Based on the projects capital investment and expectations that it will carve out average annual salaries of $95,000 for at least five...
Nyco America Establishes New U.S. HQ Facility
November 9, 2016Nyco America, an operating subsidiary of French specialty lubricants maker Nyco Group, has established a major new headquarters and an operations platform for manufacturing and warehousing at a site near Atlanta. Nyco America CEO James Mustacchio explained last week that the objective is to establish an operations platform – meaning a base for manufacturing, warehouses and offices. The facility is at an industrial site in Newnan, Georgia. Photo: Nyco America Nyco America, an operating sub...
Fire Destroys Lube Warehouse in Kyrgyzstan
November 9, 2016A fire devastated a motor oil warehouse in Bishkek, the capital city of Kyrgyzstan, the countrys emergency situation ministry reported. The warehouse carried Mannol-branded products, the ministry said, citing information from witnesses at the scene. Mannol is a German lubricants brand. Photo: Sputnik/Dosoy Cinema A fire destroyed Cheksiz motor oil warehouse under fire this past weekend on Sadygaliev Street in Bishkek, Kyrgyzstan.” The fire broke out on Saturday around 1 p.m. local time i...
Briefly Noted
November 9, 2016The Michigan Business Development Program awarded a $250,000 grant to casting lubricants manufacturer Chem-Trend, which is planning to invest $7.7 million to expand its research and development facility at its headquarters in Howell, Michigan, creating 25 jobs. Chandler, Arizona-based Maverick Performance Products announced a long-term trademark license agreement with VP Racing Fuels of San Antonio, Texas, to market, manufacture and sell VP-branded lubricants in the United States, Canada and Mexico, with availability starting in the first quarter of 2017.