Agency to Rescue Milacron Pensions
The Pension Benefit Guaranty Corp. wants to take over the
underfunded pension plan covering about 8,400 employees and retirees of
Milacron Inc., which filed for Chapter 11 bankruptcy in the United States and
Canada in March.
[FULL STORY]
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More Lubes for Indonesia
Idemitsu Kosan plans to invest $13.5 million to more than
double its finished lubricants production capacity in Indonesia next year to
meet an expected increase in demand for high-performance lubricants and oils
for motorcycles.
[FULL STORY]
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Calumet Briefly Unplugged
A short power outage Friday at Calumet’s Shreveport, La.,
refinery caused a flume of black smoke and a brief reduction in base oil
production during the time needed bring the plant’s power back online, but did
not impact customers.
[FULL STORY]
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TMP Production Consolidates
BASF and F.A.R. have agreed to cooperate on the production
and sale of the polyalcohol trimethylolpropane, used to produce synthetic lubricants, and BASF is closing a TMP plant.
[FULL STORY]
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Canadian Distributor Acquired
Parkland Income Fund agreed to acquire the fuel distribution
business of Columbia Fuels Ltd., which also delivers lubricants to commercial
customers, for Canadian $34.5 million (U.S. $30.5 million).
[FULL STORY]
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U.S. Base Oil Price Report
A scattering of posted price changes spread through the base oils market during the past week. Motiva, Holly and Flint Hills Resources jumped on the bandwagon with adjustments ranging from a decrease of 30 cents per gallon to an increase of 40 cents/gal.
[FULL STORY]
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Europe-MidEast-Africa Base Oil Price Report
The term ‘déjà vu’ comes to mind: prices only seen some two years ago are starting to make a comeback.
[FULL STORY]
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SSY Base Oil Shipping Report
Because there is so little open tonnage in the U.S. Gulf of Mexico, rates look firm on the majority of routes out. Inter-European trades fared reasonably well over the past week, especially southbound into the Mediterranean. Asia, however, remains flat and overtonnaged.
[FULL STORY]
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Publisher's Note: '09 Base Oil Guide Is Here
LNG’s completely updated 2009 Guide to Global Base Oil Refining, a colorful wall chart listing the world’s key mineral base oil plants, has been mailed to all subscribers to the print edition of Lubes’n’Greases magazine. Click here for information on ordering copies.
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