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Group II cargoes are also being pulled between regions, reducing the alternatives available to buyers as Group III supply remains stretched
Singapore’s shipments to the US are drawing barrels away from Asia, limiting how much of its export recovery reaches other regional markets
Saudi Arabia's loadings stayed below typical levels, keeping an important source of supply unusually limited for Asian and European buyers
Asia
· Several cargoes of Group II base oils loaded from Taiwan at end-August and early September, with all of them heading to Southeast Asia and one likely bound for India.
· A cargo of Group II base oils loaded from Taiwan in late July was set to reach East Coast South America at the end of this week.
· Singapore took delivery of more base oils from the Netherlands, adding to a shipment from the same country last week.
· A cargo loaded from Singapore at the end of this week is heading to the US Gulf coast, with arrival due by end-October.
· The cargo adds to an unusual surge in shipments to the US in late August and early September.
· There was an enquiry for a vessel to load a cargo from South Korea in second-half September before heading to Turkey.
· A large cargo of Group III base oils was loading from Indonesia at the end of this week, with the size of the shipment pointing to Europe as a likely destination.
· A cargo of Group III base oils loaded from Indonesia in early September before heading to northeast Asia.
· A cargo of Group III base oils loaded from Indonesia in late August was heading to Europe and due to arrive in first-half October.
India/Middle East
· A large cargo was set to load from India this week, with the original loading time more than two weeks earlier.
· A cargo originating from India was due to arrive in Singapore in the coming days.
· A cargo loaded from India in first-half August, previously heading to Europe, was now heading to the US Gulf coast and due to arrive in early October.
· There was an enquiry for a vessel to load a cargo from India in second-half September before heading to West Africa.
· There was an enquiry for a vessel to load a cargo from Saudi Arabia in second-half September before heading to Northwest Europe.
· A cargo was scheduled to load from Saudi Arabia in the coming week; it would be the first such shipment in September.
Europe/Americas
· A cargo loaded from the US Gulf Coast in mid-July, which headed to South Africa before continuing to India, arrived in India this week.
· A cargo from the US Gulf coast was due to reach Brazil this week and then Argentina in the coming days.
· A cargo originating from South Korea and Malaysia arrived in Brazil in recent days.
