Asia

·         Cargo of light and heavy-grade Group II base oils loaded from Taiwan in early June before heading to China.

·         Taiwan’s May shipment volumes outpaced April after a pick-up in flows during the second half of the month.

·         Singapore took delivery of its largest shipment from Saudi Arabia in more than a decade in the past week.

·         Singapore took delivery of additional shipments from Europe in the past week, extending a surge in flows from that market over the past month.

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

·         South Korea’s total base oils exports, and shipments to the US, showed signs of staying lower than usual in May for a second month.

·         Indonesia’s Group III exports showed signs of slowing in May compared with the previous two months.

Middle East/Europe

·         Large cargo loaded from Saudi Arabia at end-May, with shipment-size pointing to India as the likely destination.

·         Several cargoes loaded from Saudi Arabia in mid-to second-half May before heading to northwest Europe, set to arrive in the coming week.

·         Cargo loaded from northwest Europe around mid-May before heading to Nigeria, arrived in recent days.

·         Cargo loaded from northwest Europe in second-half May before heading to Singapore, set to arrive in early July, pointing to an extension of the pick-up in flows to that market.

Americas

·         Cargo of Group II base oils loaded from the US Gulf coast in early June before heading to Morocco, set to arrive in second-half June.

·         Several US shipments loaded in second-half May before heading to northwest Europe, set to arrive in the coming week.

·         Group I cargo shipments from Argentina showed signs of pausing in May, after a pick-up in flows during the previous three months.