Saudi Arabia cargo loadings rebounded in March, with sizeable shipments heading to the US and India
A UAE Group III cargo reached the US in the past week, one of the final Middle East shipments before the pause in flows since end-February
A wave of cargoes to Nigeria from US, Europe and Egypt is now arriving, boosting supply in that market
Asia
· A larger-than-usual cargo with a combination of light- and heavy-grade Group II base oils was set to load from Taiwan in early-April, with India the likely destination.
· The large shipment and a surge in flows in second-half March pointed to a muted impact so far from any feedstock supply issues.
· Cargo of Group III base oils loaded from Indonesia in late March before heading to northwest Europe, set to arrive around mid-May.
Middle East
· Large cargo loaded from Saudi Arabia at end-March before heading to the US, set to arrive at end-April.
· Large cargo from Saudi Arabia set to reach India in coming days after loading in late March.
· Shipments added to a rebound in cargo loadings from Saudi Arabia in March from the previous month.
· Cargo of Group III base oils loaded from UAE in second-half February before heading to US Gulf coast, arrived in the past week.
· The cargo is one of the final Group III shipments from the Middle East to reach the US before the pause in flows since end-February.
Europe
· Cargo loaded from northwest Europe in first-half March before heading to South Africa, set to arrive in early April.
· Cargo loaded from northwest Europe in first-half March before heading to Nigeria, set to arrive in the coming days.
· Vessel left Egypt in late-February with base oils shipment before heading to Nigeria, set to arrive in the coming days.
· Shipments add to several cargoes bound from the US to Nigeria.
Americas
· Cargo loaded from US Gulf coast in late March and early April before heading to India, set to arrive in second-half May.