Volume 9 Issue 7

Top Jiffy Lube Franchisee Exits Ch. 11
February 18, 2009Heartland Automotive Services Inc., the largest U.S. Jiffy Lube franchisee, recently emerged from Chapter 11 bankruptcy reorganization with an approved payout plan for creditors, a commitment to remain in the Jiffy Lube fold, and an agreement with Shell Oil Products U.S. to use Pennzoil lubricants at all Heartland locations. Omaha, Nebraska-based Heartland Automotive Services and its affiliates on Jan. 7, 2008, filed for Chapter 11. In the filing, the company said it was brought about by a brea...

Citgo to Shed 75 Workers
February 18, 2009Citgo Petroleum Corp. on Feb. 11 said it would cut less than 2 percent, or about 75, of its 3,762 employees, as part of a restructuring process driven by an effort to respond and adapt to the unprecedented economic crisis currently facing the United States. Spokesman Fernando Garay told Lube Report that Citgo would not provide any further breakdown on the job cuts beyond the corporate-wide figure provided in its statement. Citgo hereby categorically denies some news reports of alleged massive ...

Ban to Squeeze Single-Hull Tankers
February 18, 2009Authorities for the Port of Fujairah in United Arab Emirates have announced plans to prohibit single-hull tankers of less than 600 metric tons after December of this year, according to a local news station. The ban will also apply to offshore activity for vessels such as barges used for lubricant bunkering. The announcement by Fujairah Port Authority was reported Jan. 29 by Emirates 24/7. The authority is adopting the rule to comply with recommendations by the United Nations International Marit...

Gulf, Aegean Join to Sell Marine Lubes
February 18, 2009Gulf Oil Marine and Aegean Marine Petroleum Network plan to establish a global network and infrastructure for distribution and delivery of marine lubricants, expanding into a market dominated by major oil companies. Through the partnership signed Feb. 2, Aegean will join the Sealub Alliance Network, a group recently formed by Gulf Oil Marine to distribute marine lubricants. By substantially increasing our joint global distribution network for marine lubricants to more than 450 ports, we expect ...

SSY Base Oil Shipping Report
February 18, 2009Chemical tanker markets worldwide are beginning to see some faint signs of recovery, with more cargoes quoted and the amount of open space slowly becoming less prolific. It is a general view, and does not apply to every single route. The long-haul routes, in particular those into Asia, are among the first to benefit from the increased enquiry. Some of the coastal routes remain subdued, and in those markets it is fairly easy to find ships able to cover most requirements. Reports from Egypt sugge...