More Asian base oils are moving to the US and South America, removing surplus from the Asian market as Americas supply remains tight
Singapore’s shipments to the US extended their surge even as total exports declined, reducing volumes available to traditional Asian destinations
A Saudi Arabia cargo moved to the UAE via Suez and Africa, showing how Middle East disruptions continue to lengthen and delay regional flows
Asia
· A large cargo of Group II base oils loaded from Taiwan in late August before heading to South Korea, set to arrive this week.
· Shipments from Taiwan typically move to China, Southeast Asia or India rather than to South Korea.
· Singapore-to-US shipments extended their surge for a second week, even as total Singapore exports declined.
· The wave of shipments was the largest to the US in more than six years.
· A large cargo loaded from the Netherlands reached Singapore, the first such shipment in about a month.
· A cargo loaded from South Korea in the past week before heading to Central America, set to arrive at end-September.
· A large cargo loaded from South Korea in the past week before heading to the US Gulf coast, set to arrive in early October.
· A large cargo from South Korea reached the US Gulf coast this week, after loading at end-July.
· A cargo, likely of Group II base oils, loaded in South Korea at end-June, heading to the US Gulf coast via South Africa and Brazil, arrived in early September.
· South Korea-origin cargoes due to arrive in the US Gulf in September are likely to fall from August.
· A cargo loaded from South Korea in second-half July and from Malaysia in early August before heading to Brazil, set to arrive in the coming days.
· There was a vessel enquiry for a South Korea-to-South America cargo for September.
· There was a vessel enquiry for a Thailand-to-India cargo for early September.
India/Middle East
· A cargo of base oils loaded from India this week before heading to Southeast Asia, set to arrive next week.
· A larger cargo was set to load from India in the coming days after previously being scheduled to load in August.
· There was a vessel enquiry for an India-to-Europe cargo for mid-September.
· A cargo loaded from Saudi Arabia in mid-August before heading to the UAE via Suez and Africa, set to arrive in first-half October.
Europe/Americas
· A small cargo of premium-grade base oils was being loaded from Spain this week before heading to the Netherlands.
· A large cargo loaded from the US Gulf coast in second-half August before heading to Northwest Europe, set to arrive this week.