Global Base Oils Cargo Flows: Week To 27 February

·         Group II cargo-loadings from Taiwan gather pace in final week of February, with shipments mostly bound for China.

·         Pick-up in activity mirrors similar trend in Singapore, where exports surged in the past week after the Lunar New Year slowdown.

·         Large cargo loads from South Korea in late-January before heading to US Gulf coast, set to arrive this week.

·         Cargo loads from Thailand in H1 February before heading to India, set to arrive in coming days.

·         Cargo of Group III base oils loads from Indonesia in late-January before heading to northwest Europe, set to arrive in coming week.

·         Several cargoes of Group III base oils load from Bahrain in H2 February before heading to US, set to arrive in late-March and early-April.

·         Cargo of Group III base oils loads from UAE in past week before heading to northwest Europe via Red Sea, set to arrive in about three weeks.

·         Transit time is shorter than previous shipments.

·         Large cargo of premium-grade base oils loads from Spain in past week before heading to northwest Europe, set to arrive in early-March.

·         Shipment adds to rebound in premium-grade cargo-loadings from Spain in February.

·         Small cargo of premium-grade base oils loads from Spain in past week before heading towards eastern-Mediterranean region and less regular destination.

·         Group I cargo with combination of light grades and brightstock set to load from Argentina at end-February before heading to Brazil.

·         Shipment is first large cargo to load from Argentina since October.