Global base oil cargo flows - week of April 1

·        Taiwan’s Group II base oils exports exceed 32,000 tonnes in H2 March 2024.

·        Heavy grades account for larger share of the shipments.

·        More than half the volume moves to China.

·        Shipments include large cargo bound for India, set to arrive around mid-April 2024.

·        Singapore takes delivery of cargo from Japan last week.

·        Shipment is first from Japan to Singapore since Oct 2023.

·        Singapore takes delivery of swathe of shipments from Qatar and Hong Kong last week and through March 2024.

·        Cargo loads from South Korea in H2 March 2024 before heading to US Gulf coast, set to arrive in late April 2024.

·        Cargo loads from South Korea in H1 Feb 2024, set to reach US Gulf coast in coming week.

·        Cargo of Group III base oils loads from Indonesia in early March 2024, set to reach northwest Europe in H1 April 2024.

·        Large cargo of Group III base oils loads from Bahrain in H2 March 2024 before heading towards southern Africa; final destination unclear.  

·        Cargo of Group III base oils loads from Bahrain in H1 March 2024 before heading towards southern Africa; final destination unclear.

·        Cargo of Group III base oils loads from Bahrain in H1 March 2024, set to reach US in H2 April 2024.

·        Cargo of Group I base oils loads from Saudi Arabia in H1 Feb 2024, reaches India in past week.

·        Cargo loads from Saudi Arabia at end-March 2024 before heading to UAE via Red Sea, set to arrive in coming week.

·        Cargo loads from Saudi Arabia in late-March 2024 before heading to Jordan.

·        Large cargo loads from Qatar in late March 2024, set to reach India in early April 2024.

·        Large cargo loads from northwest Europe in mid-March 2024, set to reach Ghana in mid-April 2024.

·        Large cargo, likely of very-light grades, loads from Spain at end-March 2024, likely bound for India.

·        Cargo of Group II base oils loads from US Gulf coast in H1 March 2024, set to reach South Africa this week before heading on to India.

·        Cargo of Group II base oils loads from US Gulf coast in H2 Feb 2024, reaches Mombasa at end-March 2024.

·        Before this cargo, most recent Kenya-bound shipment from US, consisting of more than 500t, reached the East African country in mid-2022.

·        Cargo then continues on to India, set to arrive in coming week.

·        Cargo of Group II base oils loads from US Gulf coast in H2 Feb 2024, set to reach Mideast Gulf in coming week.