Several major oil companies notified U.S. customers of finished lube price cuts in recent weeks, which industry sources see as an effort to reduce the gap with independents on pricing while coping with continued slack in lubricants demand in the marketplace. A distributor noted that independents are still dramatically undercutting majors on pricing, despite the recent round of pride decreases. When you can go out and buy a 5W-30 spec product right now for $3.40 a gallon, and all the majors are...

The National Marine Manufacturers Association approved a new four-stroke oil specification for catalyzed marine outboard engines that features tougher formulation testing requirements and a focus on limiting catalyst poisoning. The associations board of directors on May 5 endorsed the new specification, indicated by an FC-W Catalyst Compatible designation, during the American Boating Congress legislative conference in Washington D.C. The new specification has a targeted Sept. 1 roll out date. ...

MOSCOW – LLK-Naftan has bucked the trend for lubricant additive companies in the former Soviet Union, growing its business during its first three years of existence. But a top official told an industry conference here that the joint venture faces challenges as it aims to offer products of higher quality levels. Deputy General Director Mikhail Babushkin discussed LLK-Naftans experience during an April 23 presentation at the World Refining Associations Base Oils and Lubricants in Russia and...

Independent refiner Calumet Specialty Products reported strong income but lower sales for the quarter ending March 31, while South Korean refiner S-Oil reported drops in operating income and revenue for the quarter, compared to year-earlier results. Calumet Specialty Products Partners LP on May 6 reported net income for the quarter ending March 31 of $75.6 million, up from a $3.4 million loss in the year-earlier period. Sales revenue for the quarter declined 30.3 percent to $414.3 million. Ind...

Cargo volumes have been reasonable this week across many trade lanes. Still greatest by far is the amount of material moving into Asia and into China in particular, although we sense that the jury is still out as to what will happen on that route in June. Elsewhere too, there have been encouraging signs. Markets have a way of correcting themselves, and what we notice is that on routes that were previously quiet shipping opportunities have been created due to a mixture of lower freight and sudden...