European coastal markets have seen a marginal improvement in demand, while the U.S. has been quieter as both sides take stock of open positions and potential demand for September. Asia remains slow. U.S. Gulf With almost all of the space to the Far East remaining in August having been covered, the market has sat back to see what space will be left for spot requirements in September, once contract nominations have been taken care of. Owners will welcome the breathing space because August was almo...

The U.S. Environmental Protection Agency and National Highway Traffic Safety Administration jointly adopted a second round of standards for medium- and heavy-duty vehicles that will cut carbon pollution and improve fuel efficiency, while bolstering energy security and spurring manufacturing innovation. The new rulemaking was issued Aug. 16, and addresses trucks made from model years 2021 to 2027. According to the EPA, the Phase 2 standards are expected to lower CO2 emissions by approximately 1.1...

Azerbaijans economy ministry recently said the state-sponsored Sumqayit industrial park could include construction of a lubricant blending facility, weeks after a state investment promotion fund announced plans to build an API Group II/III base oil plant at the same location. Some market observers expressed doubts about the viability of the two projects. Located near the capital of Baku on the shore of the Caspian Sea, the park is ready to house a dozen companies that have already been approved ...

Nynas posted a loss in operational cash flow for its naphthenics unit during the second quarter, citing lower margins and lagging market prices. The companys naphthenics business unit – which supplies mostly naphthenic base oils – posted a loss in earnings before interest, taxes, depreciation and amortization of 131 million Swedish krona (U.S. $15.3 million), compared to EBITDA of 49 million krona in the same period of 2015. Referring to combined results, Nynas said, Lower earnings a...

Chinese additive manufacturer Tianhe Chemicals began streaming at its production facility in Dubai, United Arab Emirates, earlier this week. Originally slotted to stream earlier this year, Tianhe increased its initial planned capacity in Dubai from 30,000 metric tons of additive components and packages per year to approximately 35,000 t/y, CEO G.S. Ravi told a reporter last week. The first batch will start on Monday, Aug. 29, and we will take a decision to expand or not in 2018, said Ravi. The p...