Markets in both the United States and in Asia have been subjected to increased demand which, in turn, has caused freights to strengthen. Europe, however, has been very slow, and freights are softer. U.S. Gulf Rates into the Far East have increased by at least 10 percent to 15 percent over the past week and are expected to continue climbing as space becomes even tighter. Nine thousand tons of glycol from Houston to Yangtze River, China, was fixed at $60 per metric ton and 10,000 tons of paraxylen...

ExxonMobil, Chevron, Chemlube, Cam2 International, Warren Oil, Pinnacle Oil and Smittys Supply notified U.S. customers of upcoming price increases for finished lubricants that go into effect from mid-November through early December. Factors cited in some notices include continued increases in prices for raw materials such as base oil and additives. ExxonMobil is raising prices as much as 6 percent on branded and unbranded lubricants and greases effective Nov. 20. Chevron will impose an increa...

The Union of the European Lubricant Industry last week presented its first of what will become annual reports on lubricant demand in the European Union. Officials said it will fill an informational void in Europe and become a valuable resource for the industry in that region. Market data are fundamental to a better understanding of industry trends, market dynamics and insight into end user behavior that is key to underpinning business planning decisions, UEIL President Valentina Serra-Holm said ...

Specialty chemicals companies Clariant and Huntsman Corp. mutually agreed to abandon plans to merge due to a lack of support from the formers largest shareholder, White Tale Holdings, the companies announced Friday. Clariant will not pay the $210 million breakage fee or the $60 million extraordinary general meeting non-approval fee per the termination agreement. Despite a joint statement declaring the merger would be in the best interest of both companies long-term, the board of directors for bo...

Ukrainian lube maker Agrinol refuted government allegations made last week that the company supplied the Ukrainian army with poor quality oils. The companys headquarters in Berdyansk was raided by security and anti-corruption units after anonymous calls from Ukrainian Defense Ministry insiders claiming that oil used in the tanks of the countrys armed forces are defective, causing machinery to stall. Photo courtesy of Agrinol Tank farm for storage of lubricants in the Agrinol manufacturing site ...

Profits were up for S-Oil and for Milacrons Fluid Technologies segment, while Afton Chemical reported lower operating profit, BPs lubricants business recorded lower profits, Quaker Chemical posted decreased net income, and Fuchs third quarter profit after tax was unchanged, all for the quarter ending Sept. 30, compared to a year earlier. S-Oil Seoul-headquartered S-Oil posted third-quarter operating income of 126.3 billion won (U.S. $112.3 million) for its lube base oil segment, up 29.7 percent ...