Cargo Flows

Global Base Oils Cargo Flows: Week To 24 July

Iain Pocock

  • A pick-up in Taiwan loadings coincided with tentative signs of recovery in Singapore, pointing to a possible easing of Asia's regional supply squeeze

  • Rising Red Sea shipping risks could complicate flows from Saudi Arabia to India and Asia, adding a new source of uncertainty to Middle East trade flows

  • An enquiry for a cargo from India to West Africa pointed to buyers there looking further afield for supply

Asia

·         Large Group II cargo with a combination of light and heavy grades was set to load from Taiwan at the end of this week.

·         Shipment adds to a gradual pick-up in flows over the past week, although July volumes remain well down from month-earlier levels.

·         Singapore took delivery of additional supplies from Qatar, triggering a strong rebound in shipments from that market this month.

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

·         Cargo loaded from South Korea in second-half June before heading to the US Gulf coast, set to arrive by end-July.

·         Cargo added to a wave of South Korea-origin cargoes set to reach the US Gulf coast in July and August.

·         Cargo loaded from South Korea in second-half June before heading toward South Africa, set to arrive in the coming week.

·         Cargo of Group III base oils loaded from Indonesia in early July before heading to South Africa then Northwest Europe, set to reach Europe in second-half August.

India/Middle East

·         Enquiry emerged for a vessel to load a cargo from India at end-July before heading to West Africa.

·         Cargo set to load from Saudi Arabia in early August, with the vessel currently sailing to the country from India.

Europe/Americas

·         Cargo of premium-grade base oils loaded from Spain in the past week before heading to Northwest Europe, set to arrive in the coming days.

·         Cargo loaded from Northwest Europe around mid-June before heading to West Africa, then South Africa, then Kenya in early August.

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

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