Base oils shipments from the Saudi ports of Yanbu and Jeddah fell close to a six-month low in January, curbing availability for markets like India.Total shipments of more than 40,000 tonnes in January from Yanbu and Jeddah combined fell from more than 55,000 tonnes the previous month, shipping data showed.The volume fell from typical levels of close to 60,000 tonnes/month over the past year.Any slowdown in shipments to India would coincide with a fall in South Korea’s base oils exports to that market in recent months.Plant maintenance in South Korea raised the prospect of its exports to India staying lower at least through the first quarter of the year. The trend boosted the need for buyers to boost supplies from other sources instead.A sustained pick-up in shipments from Saudi Arabia to India in recent months helped to balance out the slowdown in supplies from South Korea.The fall in shipments from Yanbu and Jeddah in January could complicate an extension of that trend.India’s imports from Saudi Arabia in January got a boost from the delivery of a large volume of shipments in the first half of the month.A large portion of the supplies likely loaded from Saudi Arabia in the month of December, cushioning the impact of the slowdown in its exports in January.The dynamic raised the prospect of India’s imports from Saudi Arabia in February facing more of the impact of the slowdown in shipments in January.Any such slowdown in February would coincide with base oils plant maintenance work in India that month, curbing availability from domestic sources.It would also precede a seasonal rise in India’s lube demand in the month of March.Lower supply and rising demand put pressure on buyers to seek additional supplies from other sources instead.The slowdown in Saudi Arabia’s base oils shipments in January had less of an impact on flows to Singapore, with another cargo moving to that market.The ongoing flows followed a surge in the island-state’s base oils imports from Saudi Arabia to more than 30,000 tonnes in second-half 2024.The volume rose from around 16,000 tonnes in the twelve months to June 2024 and tapped southeast Asia’s persistently tight availability of Group I brightstock especially..S Korea Jan base oils exports to UAE fall.India’s January base oils imports rise.Saudi Arabia Dec Yanbu/Jeddah exports fall
