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Asia flows softened, with shipments from Taiwan and South Korea slowing markedly in April
Saudi Arabia maintained elevated shipments, with several cargoes heading to India
Spain's exports slowed in April, contrasting with a pickup in US shipments to Europe
Asia
· Cargo of Group II base oils loaded from Taiwan in past week before heading to China.
· Taiwan’s total exports slowed markedly in second-half April, leaving the full-month volume well below March levels.
· Small cargo of Group II heavy grades set to load from Taiwan in early May, with Southeast Asia the likely destination.
· Cargo loaded from South Korea in early April before heading to Saudi Arabia via India, set to arrive in first-half May.
· South Korea’s base oils shipment volumes in April pointed to a marked slowdown from March.
Middle East/Europe
· Cargo loaded from Saudi Arabia at end-April before heading to India, set to arrive in first-half May.
· Cargo loaded from Saudi Arabia last week before heading to India, set to arrive in coming days.
· Saudi Arabia’s base oils shipment volumes in April showed signs of holding at elevated levels.
· Spain’s premium-grade base oils shipments in April pointed to a marked slowdown from March.
· Cargo of very-light grade base oils loaded from Spain around mid-March before heading to India, set to arrive in the coming days.
· Cargo loaded from northwest Europe in early March before heading to Singapore, set to arrive in the coming week.
Americas
· Large cargo loaded from US in second-half April before heading to northwest Europe, set to arrive in second-half May.
· US shipment volumes to Europe showed signs of rising strongly in April, with cargo loadings picking up during the second half of the month.
· Cargo loaded from the US Gulf coast in early April before heading to Nigeria, set to arrive next week.
