Global Base Oils Cargo Flows: Week To 13 March

Asia

·         Large Group II cargo with combination of light and heavy grades set to load from Taiwan this week, with India the likely destination.

·         Cargo loadings from Taiwan show signs of rising so far in March vs February, but remain well below December and January levels.

·         Cargo of Group III base oils loaded from Indonesia in early-March before heading to Europe, set to arrive around mid-April.

·         Cargo loaded from Singapore in the past week before heading to UAE, with delivery route and final destination unclear.

Middle East

·         Cargo loaded from Saudi Arabia in late-February bound for the UAE before diverting to India, set to arrive in the coming days.

·         That pattern could repeat, with several large cargoes scheduled to load from Saudi Arabia during second-half March.

·         Cargo of premium grades loaded from Qatar in late-January before heading to northern Europe, set to arrive this week.

·         Last Group III shipments to load from the Middle East were in late-February, with most supplies bound for the US and set to arrive in late-March and early April.

Europe

·         Cargo of premium-grade base oils loaded from Spain in early-March before heading to northwest Europe, arrived in recent days.

·         Cargo loaded from Spain in late-February before heading to India, via the Red Sea, set to arrive in the coming days.

Americas

·         Cargo of Group I base oils loaded from US in the past week before heading to northwest Europe, set to arrive in late-March.

·         Cargo loaded from US in February and early-March before heading to West Africa, set to arrive in early-April.

·         Enquiry for vessel to load large cargo from US Gulf coast in second-half March bound for West Africa.