India continued directing large cargoes to overseas markets as buyers sought alternative Group III supplies amid persistent Middle East disruptions
Europe continued attracting additional premium-grade cargoes from Spain, Indonesia and Malaysia, coinciding with a round of Group III maintenance work
Singapore’s exports remained subdued, and Saudi Arabia flows stayed muted despite the postponement of planned August maintenance
Asia
· Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.
· Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.
· Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.
· Cargo loaded from Indonesia in early July, and another from Malaysia in first-half July, with both set to reach Europe in second-half August.
India/Middle East
· Large cargo set to load from India in the coming days, following a recent wave of shipments moving to the US.
· Similar cargo loaded from India in second-half June, set to arrive at the US Gulf coast in the coming week.
· Another cargo loaded from India in early June, reached the US Gulf coast in recent days after stops in Brazil.
· Cargo loaded from Saudi Arabia in mid-July before heading to Egypt, arrived at end of this week.
· The cargo size suggested a portion of the shipment could continue on to other destinations including northwest Europe.
Europe/Americas
· Cargo of premium-grade base oils loaded from Spain this week before heading to northwest Europe, set to arrive next week.
· Smaller cargo of premium-grade base oils set to load from Spain next week before heading to Italy.
· Cargo loaded from the US Gulf coast in mid-June, set to reach India in the coming days after stops in South Africa.