Rates are unchanged on most routes out of the U.S. this week. European activity is stable, and freight levels are stationary. Asia has been surprisingly active and rates firmed on some routes, in spite of predictions to the contrary. U.S. Gulf With September space fully covered into the Far East, traders have been working their way through Octobers list of ships, which is steadily getting smaller as more cargoes are fixed. Owners and charterers alike seem quite happy at fixing at unchanged level...

Chevron Phillips Chemical has declared force majeure on its polyalphaolefin and metallocene PAO produced in North America, due to impacts of Hurricane Harvey. Industry sources say the company warned disruptions could last until December. The hurricane brought record flooding to southeastern Texas in late August, resulting in the closing of Chevron Phillips Chemicals Cedar Bayou petrochemical refinery, which has a 58,000 t/y PAO plant; ExxonMobils Baytown refinery, which includes a 50,000 metric ...

Abu Dhabis Adnoc Distribution, which markets finished lubricants under the Voyager brand, could offer stock worth more than 10 percent of its value by early 2018, according to unconfirmed press reports. Earlier reports suggested an initial public offering of the business – which also includes filling stations, service centers and convenience stores – could value the company at up to U.S. $14 billion. Adnoc did not reply to a question from Lube Report about the accuracy of the report,...

CHICAGO – Wind turbine lubricant demand is expected to grow at a compound annual rate of 7.5 percent through 2020 thanks to a healthy increase in wind turbine installations, said Chuck Coe at the ICIS North American Industrial Lubricants conference held here. According to Coe, president of Grease Technology Solutions, wind turbine lubricant demand reached between 70 million pounds and 80 million pounds in 2015. Gear oil makes up 70 percent of that demand, followed by hydraulic fluid at 25 ...

Russian lubricant marketer Lukoilexpects to increase its share in the global marine oil market on the heels of increased sales and expansion of its supply volumes to several heavyweight shipping companies. The company aims to capture 12 percent of the market this year, up from 10 percent in 2016, said Victor Zhuravskiy, head of Lukoils marine lubricants subdivision. The current pace of business growth will allow us to position ourselves as the fourth-largest marine oil supplier in the world, Zhu...

Transformer oil rerefiner Hydrodec posted an operating loss of $2.1 million for the six months ended June 30, improving from a $3.1 million operating loss in the year-earlier period. The company reported revenue of $9 million for first half of this year, up 11 percent from $8.1 million a year earlier, which Hydrodec attributed to improved pricing and sales mix. Total product sales volumes for Hyrodec reached almost 15.1 million liters during the first six months of this year, down 10 percent fro...