It has been another slow period with very little occurring from the United States. Europe is rather quiet too and freights have dropped in both areas. Asia is a little more comfortable on some routes but on others there is little happening. U.S. Gulf There is a build-up of open prompt ships in the U.S. Gulf that have got nowhere to go and which are offering on just about anything, even if the quantities are smaller than the owners would normally consider, or in directions that the owners would n...

At the May 8 meeting of the Auto-Oil Advisory Panel, held in Detroit, the question of how to label the new GF-6 engine oils for consumers continued to be an important topic. Because there are two grades, GF-6A and GF-6B, there is concern by all quarters of the industry as to how the oil will be designated. Current practice calls for all GF series oils to be identified by the API Certification Mark, known as the Starburst. GF stands for gasoline fueled, and each upgrade in the specification has u...

Several oil majors and smaller and independent suppliers informed U.S. customers of finished lubricant price hikes, generally 4 percent to 6 percent, most going into effect in early- to mid-June. Most companies indicated in their notices that the price increases could fall outside the specified amount, depending on the product. Some notices cited increasing raw material costs impacts on manufacturing and distribution costs as a key factor. Ashland Consumer Markets notified customers that prices ...

Calumet Specialty Products Partners reported a $49.8 million loss in its first quarter, compared to $46 million in net income in the year earlier quarter, despite a marginal uptick in sales. Sales for the Indianapolis-based fuels and specialty products manufacturer were $1.3 billion, a nominal improvement from year-earlier results. Sales volumes were down 8.7 percent in Calumets specialty products segment, however, to 24,594 barrels per day in the first quarter compared to 26,949 b/d in 2013s fi...

Frost & Sullivan estimated the global industrial grease market will reach $1.8 billion revenue in 2019, up from $1.2 billion in 2012, with technological improvements and customized grease systems creating opportunities for market participants in a wider range of industries. The international market research firm last month published, Analysis of Industrial Greases Market and Opportunities for Bio-based Materials. The analysis is presented in terms of sales in dollars. Anna Jarosik, Frost &#...

Smaller engines with high efficiency rates and lower emissions are the latest industry trends that could pose big headaches for lubricant makers in the future, according to a Shell pundit. Development of new technologies is a priority for the Anglo-Dutch oil major. In 2013 it invested U.S. $1.3 billion in research and development, which Shell claims is one of the biggest R&D price tags among the top oil majors. The world population is expected to increase to 9 billion people by 2050, and it ...