South Korean cargo reached the US Gulf coast this week, with follow-up shipments showing signs of slowing in April
Saudi Arabia remained the only active base oils export source in the Middle East, with cargoes moving to India, Southeast Asia and Europe
Last Group III shipments from the Middle East bound for the US and Europe completed their delivery runs in March and first-half April
Asia
· Pace of cargo loadings from Taiwan slowed in the past week, with most of this month’s shipments bound for India and Southeast Asia.
· Two cargoes of Group II base oils loaded from Taiwan in early April before heading to India, set to arrive in the coming days.
· Singapore took delivery of a large shipment from the Netherlands, that was likely arranged before the supply disruptions from end-February.
· Another large cargo from Northwest Europe was set to reach Singapore by end-April after loading in first-half March.
· Cargo loaded from Malaysia in first-half April before heading to India, set to arrive in the coming week.
· Large cargo loaded from South Korea around mid-March before heading to the US Gulf coast, arrived at end of this week.
· Cargo loadings from South Korea to the US showed signs of slowing in April compared with March.
Middle East
· Cargo loaded from Saudi Arabia around mid-April before heading to India, set to arrive in early May.
· Cargo loaded from Saudi Arabia in first-half April before heading towards Southeast Asia, set to arrive by end-April.
· Cargo loaded from Saudi Arabia in early April before heading to Egypt and Italy, arrived in Italy in recent days.
· Last Group III shipments from the Middle East bound for US and Europe reached their final destinations in March and first-half April.
Europe
· Large cargo of premium-grade base oils loaded from Spain last week before heading to northwest Europe, arrived at end of this week.
· Several smaller shipments loaded from Spain last week before heading to Spain and Turkey.
· Cargo of very-light-grade base oils loaded from Spain in first-half March before heading to India, arrived this week.
Americas
· Cargo loaded from US Gulf coast in early April before heading to North Africa, set to arrive in the coming days.
· Cargo loaded from US Gulf coast in early March before heading to India, set to arrive next week.
· Cargo of Group I base oils set to load from Argentina in coming days, with destination unclear.
· The shipment would be the largest from Argentina in six months.