Global shipping markets remain subdued while players come to grips with crudes fall and thus, lower commodity values. There arent many reports of restocking, which is needed to kick-start the markets. U.S. Gulf All routes in the U.S. market appear to be stacked into a holding position. Transatlantic eastbound is about the only route with any degree of spot activity, and that is primarily styrene, although there are reports of 6,000 tons of benzene being booked from Houston to Rotterdam at $47 pe...

A global base stock surplus, combined with slowed growth in demand and upcoming capacity additions, means the market should prepare for more base oil plant closures in the near future, consultancy Kline & Co. concluded in a study. Kline estimated potential lubricant base stock supply in 2013 – including paraffinic API Group I, II/II+, III/III+ and naphthenics – at about 38.2 million metric tons, Anuj Kumar, a project manager in Parsippany, N.J.-based Klines energy practice, said ...

DUBAI, United Arab Emirates – With API Group II and III base oil supply growing in the Persian Gulf area, the question remains whether base oil needs in the Middle East and North Africa will evolve to make more use of the supply. During the 11th ICIS Middle Eastern Base Oils and Lubricants Conference in Dubai on Oct. 15, a panel debated if the region would adopt a new base oil paradigm and take advantage of advances in technology and what form the transition would take. It is a big if, how...

SKF is making a $34.2 million investment to construct a manufacturing facility for industrial lubrication systems in north St. Louis County, Mo., the Missouri governors office recently announced. Construction is slated to begin this fall in NorthPark, a development adjacent to Lambert-St. Louis International Airport, and be completed in December 2015, according to the announcement by Gov. Jay Nixon. The 310,986 square feet facility is expected to create up to 73 new jobs within six years and ret...

SK Lubricants, S-Oil, Chemtura and Quaker Chemical reported higher profits for the quarter ending Sept. 30, compared to year-earlier numbers. SK Lubricants SK Lubricant posted an operating profit of 73.2 billion South Korean won (U.S. $69.8 million) for the third quarter, up 16.8 percent from 62.8 billion won a year earlier. Third quarter sales declined to 700.9 billion won from 740.4 billion won, a 5.3 percent decrease. SK operates a 40,000 barrel per day API Group II/III base oil facility at i...

Russian lubricant marketer Lukoil expanded its lube sales in the South Caucasus and is confident it can expand production and establish more distribution channels in the region. The company discussed its aggressive marketing initiative in Georgia, Armenia and Azerbaijan during a regional vehicle dealership convention held earlier this year in Georgia. Our presence here is a result of the dynamic development of the regions respective economies, Alexey Strelchenko, LLK Internationals deputy genera...