The delivery of premium-grade base oils from the UAE and Bahrain to key global outlets edged down in November amid a slump in shipments from Bahrain.The key outlets of US, Europe and Asia took delivery of less than 60,000t from the UAE and Bahrain combined in November, government and customs data showed.The volume fell slightly from October as shipments from Bahrain dipped to a thirteen-month low of less than 15,000t.Imports from the country were down from typical levels of close to 30,000 t/month over the past year.A rise in supplies from the UAE cushioned the slowdown. Shipments recovered to more than 45,000t in November, from around 30,000t the previous month.The US was the destination for almost all the shipments from Bahrain and a larger-than-usual volume of the supplies from the UAE.A surge in shipments from South Korea to the US in December added to a swathe of premium-grade supplies moving to that market in recent months.US Group III prices maintained a premium of more than $100/t to prices in Europe for most of the last four months, ICIS data showed.Higher US prices boosted the attraction of moving more Group III supplies to that market.The rise in shipments from UAE and Bahrain to the US compounded the drop in volumes bound for Europe.The region’s imports of less than 3,000t from the UAE and Bahrain combined fell from typical volumes of around 25,000 t/month over the past year.Asia’s imports of around 11,000t from the UAE and Bahrain in November were down slightly from typical levels of around 13,000 t/month over the past year.Including Qatar, total premium-grade shipments from the Mideast Gulf to key global outlets rose to more than 265,000t in November, up from less than 220,000t the previous month..Nov base oils imports from Qatar rise.US’ November base oils imports mixed
The delivery of premium-grade base oils from the UAE and Bahrain to key global outlets edged down in November amid a slump in shipments from Bahrain.The key outlets of US, Europe and Asia took delivery of less than 60,000t from the UAE and Bahrain combined in November, government and customs data showed.The volume fell slightly from October as shipments from Bahrain dipped to a thirteen-month low of less than 15,000t.Imports from the country were down from typical levels of close to 30,000 t/month over the past year.A rise in supplies from the UAE cushioned the slowdown. Shipments recovered to more than 45,000t in November, from around 30,000t the previous month.The US was the destination for almost all the shipments from Bahrain and a larger-than-usual volume of the supplies from the UAE.A surge in shipments from South Korea to the US in December added to a swathe of premium-grade supplies moving to that market in recent months.US Group III prices maintained a premium of more than $100/t to prices in Europe for most of the last four months, ICIS data showed.Higher US prices boosted the attraction of moving more Group III supplies to that market.The rise in shipments from UAE and Bahrain to the US compounded the drop in volumes bound for Europe.The region’s imports of less than 3,000t from the UAE and Bahrain combined fell from typical volumes of around 25,000 t/month over the past year.Asia’s imports of around 11,000t from the UAE and Bahrain in November were down slightly from typical levels of around 13,000 t/month over the past year.Including Qatar, total premium-grade shipments from the Mideast Gulf to key global outlets rose to more than 265,000t in November, up from less than 220,000t the previous month..Nov base oils imports from Qatar rise.US’ November base oils imports mixed
