Volume 1 Issue 34
SSY Base Oil Shipping Report
August 15, 2018None of the main markets can claim to have been busy over the past week. At best, the vessel supply to demand picture in each region has not worsened, and it could even be said to have tightened slightly in a few areas, but overall, freights remain weak.-by Adrian Brown
Crystallex Seizes Citgo Assets in Court Ruling
August 15, 2018A U.S. district court approved Thursday a request by defunct Canadian gold miner Crystallex International Corp. to seize control of shares from a Petrleos de Venezuela, S.A. subsidiary that owns Citgo. Legal analysts said the ruling casts doubt on the future of Citgo and its lubricant business - estimated by an industry consultant to be seventh-largest in the United States.
15 Bid to Partner in Curacao
August 15, 2018By the beginning of September, Curacaos Isla Refinery plans to enter negotiations with a potential partner wanting to become manager of the Caribbean refinery. Isla and Curacaos government are currently weighing proposals from 15 potential partners.
Profits Up for Cosan, Down for Calumet, Afton
August 15, 2018Calumet Specialty Products Partners LP posted a net loss, Afton Chemicals operating profit declined and Cosans Moove lubricants segment reported increased profit for the second quarter.
From Other Editions of Lube Report
August 15, 2018Briefly Noted
August 15, 2018The North Carolina Department of Agriculture and Consumer Services last week said it issued a stop-sale order for tractor hydraulic fluid products labeled, claimed or implied as meeting THF 303, a specification discontinued in 1974 and subsequently replaced with the current JDM-J20C or D specifications. The agency said manufacturers and distributors have six months to remove the products from retail locations, and retailers or distributors with the product in stock should return it to their suppliers. Colleen Murphy-Smith was appointed as director, base oils for Motiva Enterprises LLC. She replaces Bryan Schorzman, who was appointed director of refining and strategy analysis. Midland, Michigan-based Savant Group appointed John Bucci vice president of technical development.