The U.S. is moving at a faster pace with better opportunities on all routes. European freight levels are not under undue stress, although owners might wish for a greater choice of cargoes. Asia, however, remains a difficult market for owners and rates have a soft feel about them. U.S. Gulf Styrene is being seen more frequently along the U.S. Gulf-to-Far East route. Ethanol is also generating some interest, with requirements both into the Philippines and Korea. Ethylene dichloride in the amount o...

Quaker Chemical announced last week an agreement to acquire Houghton International, a deal that will combine two of the worlds largest suppliers of metalworking fluids. Houghton is currently owned by Indian conglomerate Hinduja Group through its lubricant business, Gulf Oil. The deal calls for Hinduja to take a nearly 25 percent stake in the combined company and to be given three seats on its board of directors. Quaker Chemical officials said the combined company will offer a broader range of p...

Shell and Phillips 66 notified U.S. customers of upcoming price increases on finished lubricants that take place around mid-May. Shell informed customers of a general price increase on up to 4 percent effective May 15, attributing it in part to increasing costs of raw materials used in production and delivery of its products. Phillips 66 notified customers it will raise prices by 4 to 6 percent effective May 10, citing the impact of recent increases in raw material costs on its product manufactu...

Testing company Intertek Group plc announced yesterday that it has completed the acquisition of KJ Tech Services, a Germany-based company specializing in on-road testing. The terms of the acquisition have not been disclosed. KJ Tech was formed in 1989 to provide testing services for vehicles, lubricants, fuels and automotive components, according to its website. The company began conducting road tests in Kuwait, Bahrain and Oman in 2004, and announced a worldwide expansion in 2014, moving into t...

Umongo Petroleum acquired South African base oil distributor Orbichem Petrochemicals, which is now a wholly owned subsidiary. Terms were not disclosed. Cape Town, South Africa-based Orbichem distributes API Group I, II and III base oils, naphthenic process oils, transformer oils, waxes and bitumen. In 2014, Orbichem began distributing Ergon Internationals naphthenic insulating oil, base oils and process oils in South Africa and sub-Saharan Africa. Umongo Petroleum of Durban, South Africa distrib...

WD-40 reported net income of $12.4 million for the quarter ending Feb. 28, down 10 percent from a year earlier, with net sales up 2 percent at $96.5 million. Earnings per diluted share slid to 87 cents, down from 94 cents the year before. San Diego-based WD-40s fiscal year goes from Sept. 1 to Aug. 31. Net sales decreased 1 percent in the Americas to $45.1 million, increased 2 percent in Europe, Middle East and Africa to $36.2 million and climbed 14 percent in Asia-Pacific to $15.2 million compa...