Cargo Flows

Global base oils cargo flows: Week of 2 Sept

Iain Pocock

·        Pick-up in flow of cargoes from Taiwan extends through H2 Aug 2024; most of the shipments over the past week move to China.

·        Cargoes to China add to rebound in shipments to that market from Taiwan in Aug 2024.

·        Singapore takes delivery in past week of larger-than-usual cargo of Russian origin.

·        Shipments is first from Russia since June 2024 and third this year.

·        Cargo loads from South Korea in late-July 2024 before heading to US Gulf coast, set to arrive this week.

·        Cargo loads from South Korea in H2 July 2024 before heading to Brazil, set to arrive this week.

·        Cargo loads from South Korea in H1 Aug 2024 before heading to northwest Europe, set to arrive in early Oct 2024.

·        Cargo loads from South Korea in H1 Aug 2024, set to reach UAE this week.

·        Cargo loads from Indonesia in H2 Aug 2024 before heading to northwest Europe, set to arrive in mid-Oct 2024.

·        Cargo loads from Saudi Arabia at end-July 2024 before heading to South Africa, set to arrive this week.

·        Large cargo loads from Saudi Arabia at end-Aug 2024. Size of shipment suggests it is likely bound for UAE or India.

·        Cargo loadings from Saudi Arabia in Aug 2024 show signs of rebounding strongly vs July 2024.

·        Cargo, likely of very-light grade base oils, loads from Spain in H2 July 2024, set to reach India this week.

·        Cargo loadings of premium-grade base oils from Spain in Aug 2024 shows signs of rising from July 2024 and year on year.

·        Cargo loads from northwest Europe in early Aug 2024, reaches South Africa this week.

·        Cargo loads from US Gulf coast in late-Aug 2024 before heading to Nigeria, set to arrive in H2 Sept 2024.

·        Cargo loads from US Gulf coast in mid-Aug 2024 before heading to South Africa, set to arrive around mid-Sept 2024.

·        Size of cargo suggests shipment will then continue to other outlets like India.  

·        Cargo loads from US Gulf coast in H1 July 2024 before heading to India, arrives at end-Aug 2024.

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China’s October base oils output falls

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Europe August supply exceeds demand

Europe Aug Group I supply extends rise