The delivery of base oils from Qatar to US and Asia-Pacific surged in September, outweighing lower shipments to Europe to rise to a record high.The key markets of US, Europe and Asia-Pacific took delivery of more than 270,000t of base oils from Qatar in September, government data showed.The volume was unusually high. The second-highest volume, in late 2020, was less than 215,000t..The surge in shipments followed lower-than-usual supplies during the four months to August.The size and speed of the rise in shipments was unusual.The Asia-Pacific region had seen a sharp fall in supplies from Qatar in the first eight months of the year. The slowdown reflected a drop in shipments to Hong Kong and China, where repeated lockdowns have weighed on the country’s economic growth.Both of those markets saw a surge in imports from Qatar in September.The rise in supplies lifted Asia-Pacific imports from Qatar to a record-high of more than 160,000t. The volume was up from less than 40,000t the previous month.The rise in shipments coincided with a seasonal pick-up in Chinese demand at the end of the third quarter of the year. But the strength of the rise in demand was weak compared with previous years..China's Sept base oils demand edges up.The higher volumes also coincided with the large expansion of a major lube blending plant in Indonesia. The expansion was officially opened in November..Shell doubles capacity with expanded lube plant in Indonesia.US imports from Qatar have been high throughout the year. They rose even more in September to a record high.Strong US demand for Group III base oils and high US prices for the product relative to other markets boosted the attraction of increasing supplies to that market..US' September base oils imports surge.Europe was the outlier, with imports falling in September from the previous month. The slowdown coincided with growing signs of a region-wide economic recession in the coming months, and a subsequent fall in lubricants consumption..August base oil imports from Qatar fall
The delivery of base oils from Qatar to US and Asia-Pacific surged in September, outweighing lower shipments to Europe to rise to a record high.The key markets of US, Europe and Asia-Pacific took delivery of more than 270,000t of base oils from Qatar in September, government data showed.The volume was unusually high. The second-highest volume, in late 2020, was less than 215,000t..The surge in shipments followed lower-than-usual supplies during the four months to August.The size and speed of the rise in shipments was unusual.The Asia-Pacific region had seen a sharp fall in supplies from Qatar in the first eight months of the year. The slowdown reflected a drop in shipments to Hong Kong and China, where repeated lockdowns have weighed on the country’s economic growth.Both of those markets saw a surge in imports from Qatar in September.The rise in supplies lifted Asia-Pacific imports from Qatar to a record-high of more than 160,000t. The volume was up from less than 40,000t the previous month.The rise in shipments coincided with a seasonal pick-up in Chinese demand at the end of the third quarter of the year. But the strength of the rise in demand was weak compared with previous years..China's Sept base oils demand edges up.The higher volumes also coincided with the large expansion of a major lube blending plant in Indonesia. The expansion was officially opened in November..Shell doubles capacity with expanded lube plant in Indonesia.US imports from Qatar have been high throughout the year. They rose even more in September to a record high.Strong US demand for Group III base oils and high US prices for the product relative to other markets boosted the attraction of increasing supplies to that market..US' September base oils imports surge.Europe was the outlier, with imports falling in September from the previous month. The slowdown coincided with growing signs of a region-wide economic recession in the coming months, and a subsequent fall in lubricants consumption..August base oil imports from Qatar fall
