There are soft undertones to almost every market, with substantial reductions in some freights, particularly out of the U.S. U.S. Gulf Ironically, the market that has seen the sharpest fall in freight rates is possibly the one with the most potential business. Almost as if in a game of poker, charterers into the Far East have been able to bluff owners into thinking that rates must be lower to compete, and it really only takes one or two nervous owners to accept charterers terms and then, suddenl...

BP Lubricants USA and Pennsylvania used-car dealer CarSense face a class action alleging that their requirement to use Castrol brand products for engine warranty coverage constitutes an illegal tie-in that violates the Magnuson-Moss Warranty Act. The complaint was filed on May 5 in the Eastern District of Pennsylvanias U.S. District Court. Photo: Minerva Studio/Fotolia The plaintiffs are seeking a jury trial for their class action complaint against BP and CarSense. The plaintiffs, Alison and T...

Lukoil reported 5 percent growth in finished lubricant sales for 2016, driven by the companys increased sales of high-margin products and expansion of its product mix. Last year our consolidated sales of finished lubricants reached 761,000 tons, up from 723,000 tons sold in 2015, Lukoils lube arm LLK International told Lube Report last week. In 2016 the companys premium motor and industrial oils sales rose 22 percent compared to the year before. Factors such as a program seeking to substitute Lu...

Oxea completed an upgrade of its carboxylic acids production facility in Oberhausen, Germany, the company announced Friday, increasing the facilitys output of short-chain fatty acids. The new production capacity was not disclosed, but could lead to expanded supply of ester-based lubricants. Oxea, which is part of the Oman Oil Company, claims its new investment increases the companys global supply reliability. Dr. Oliver Borgmeier, Oxeas vice president of operations and derivatives for Europe and...

ATLANTA – Michael Anderson of Falex Corp. was appointed president of the Society of Tribologists and Lubrication Engineers during its annual meeting and exhibition held here May 21-25. Anderson, who serves as area manager for Asia-Pacific and Latin America at Sugar Grove, Illinois-based Falex, was presented as the new head of STLEs executive committee for the year 2017-2018 during the Presidents Luncheon on May 23. He succeeds 2016-2017 president Ali Erdermir, a distinguished fellow and se...