Cargo Flows

Global Base Oils Cargo Flows: Week To 3 July

Iain Pocock

  • A large cargo from India to the US and continued Europe-to-Singapore shipments pointed to ongoing adjustments to cover supply disruptions

  • Regular Group III shipments from Spain and Indonesia to Northwest Europe underscored the importance of those flows for the region’s premium-grade market

  • Argentina's base oils exports continued to recover, with two cargoes scheduled to load in late June and early July

Asia

·         Group II cargo with a combination of light and heavy grades loaded from Taiwan in recent days before heading to Indonesia.

·         Group II cargo-loadings from Taiwan gathered pace in second-half June, with a similar volume of shipments moving to China and Southeast Asia.

·         Singapore took delivery of another cargo from Europe in the past week, adding to a sustained wave of shipments from that market since mid-May.

·         Cargo of Group III base oils loaded from Indonesia in early May before heading to Northwest Europe, arrived in early July.

·         Cargo loaded from South Korea in the past week before heading to the US Gulf coast, set to arrive in early August.

·         Cargo loaded from South Korea in late June before heading to Central America, set to arrive in late July.

·         Cargo loaded from South Korea at end-May before heading toward the US Gulf coast, set to arrive in the coming week.

India/Middle East

·         Large cargo loaded from India in second-half June before heading to the US Gulf coast, set to arrive in first-half August.

·         Cargo loaded from Saudi Arabia in late June before heading to Egypt, set to arrive in early July.

·         Cargo loaded from Saudi Arabia in late June before heading to Fujairah, arrived in recent days.

Europe/Americas

·         Shipments of premium-grade base oils from Spain held relatively steady in June from May, but a larger volume moved to Northwest Europe.

·         Cargo loaded from Northwest Europe in mid-May before heading to South Africa then India, reached India in recent days.

·         Cargo loaded from Northwest Europe in second-half June before heading to Singapore, set to arrive in early August.

·         Cargo set to load a combination of Group I light grades and brightstock from Argentina in early July before heading to the US.

·         Another cargo of Group I base oils is expected to load from Argentina in the coming week.

·         Cargo loaded from the US Gulf coast in mid-May before heading to South Africa, arrived in recent days.

·         The size of the cargo pointed to the vessel carrying on to a further destination such as India.

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