Home August 30, 2017

August 30, 2017

Volume 17 Issue 35

U.S. Base Oil Price Report

Tropical Storm Harvey wreaked havoc along the coastline of southern Texas, snarling transportation of base oils while also forcing the shutdown of several area base oil plants.The devastating storm turned into a hurricane with winds of 130 miles per hour when it made landfall in Corpus Christi, Texas, on Friday, Aug. 25, but was later downgraded to a tropical...

EMEA Base Oil Price Report

With vacation season ending and buyers and sellers returning to work, the base oil industry is waiting to see what direction markets take.Opinions differ about what is most likely. Some sources note that demand traditionally begins to slow at this time of year, causing prices to erode. Others contend that demand for API Group I oils is strong now,...

SSY Base Oil Shipping Report

Adrian Brown is away. His column will reappear in next week's issue.

Storm Closes Port Arthur, Baytown, Other Plants

Base oil and additive plants along Texas Gulf Coast stand idle as Hurricane Harvey brought record flooding to one of the worlds highest concentrations of raw material supply for the lubricant industry.With water levels still rising, companies said it was too soon to say when facilities would reopen. The industry awaited damage assessments as the rain spread eastward from...

Group II Rerefinery to Launch in Romania in 2019

Green Oils and Lubes, part of a United Arab Emirates-based group of companies, plans to build a base oil rerefinery in Oltenita, Romania, the company told Lube Report.The $53 million rerefining project will have capacity to process 72,000 metric tons of waste oils annually. The European Bank for Development and Reconstruction and a commercial bank will finance $30 million...

U.S. Industrial Lube Demand to Stand Still

U.S. demand for industrial lubricants is expected to remain stagnant through 2021, with process oils and metalworking fluids the only parts of the segment predicted to grow, according to Kline & Co.The industrial segment is the largest portion of U.S. lubricant demand, accounting for between 1.2 billion gallons and 1.3 billion gallons, or 45 percent, of the market. Kline...

Ingevity Absorbs Georgia-Pacifics Pine Chemicals

Ingevity Corp. will acquire Georgia-Pacifics pine chemicals business - including tall oil fatty acids used in metalworking fluids and corrosion inhibitors - for $315 million in cash. Subject to conditions and regulatory approvals, the transaction is expected to close in late 2017.According to Ingevitys presentation on the acquisition, it will include Georgia-Pacifics site in Crossett, Arkansas, which employs about...

Nynas Reports Strong Quarter

Nynas naphthenic business unit reported an increase in earnings before interest, taxes, depreciation and amortization to 142 million Swedish krona ($17.8 million) for its second quarter, rebounding from a 131 million krona loss in 2016s second quarter.The business unit, which primarily supplies naphthenic base oils, reported a 33.3 percent jump in net sales to 2 billion krona from 1.5...

Briefly Noted

Specialty chemical distributor Sea-Land Chemical Co. of Westlake, Ohio, promoted Jennifer Altstadt to chief operating officer, responsible for overseeing all departments and daily operations, and reporting to company President Joe Clayton.
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