Global base oil cargo flows - week of 1 July

·        Taiwan sees pick-up in cargo shipments in last week of June 2024.

·        Most of Taiwan’s base oils shipments in H2 June 2024 move to Singapore, with some supplies moving on to India.

·        Taiwan’s shipments of heavy grades show signs of rising in June 2024, outpacing light grades.

·        Singapore takes delivery of cargoes from Italy and Saudi Arabia in past week.

·        Cargo from Italy is first in a month.

·        Cargo from Saudi Arabia is largest since Feb 2024.

·        Singapore takes delivery in past week of first shipment from Bahrain since Q3 2022.

·        Cargoes from South Korea show signs of slowing in June 2024 from May 2024, with sharp fall in shipments to US.

·        Cargo loads from South Korea at end-May 2024, set to reach US Gulf coast this week.

·        Cargo of Group III base oils loads from Bahrain in late June 2024 before heading to northwest Europe, scheduled to arrive in H2 July 2024.

·        Cargo of Group III base oils loads from UAE in H2 June 2024, reaches west-coast India at end-June 2024 before heading to east-coast India.

·        Cargo loads from Saudi Arabia in H2 June before heading to India, set to arrive in early July 2024.

·        Cargo loads from Saudi Arabia in H2 June 2024 before heading to northwest Europe, set to arrive in coming week.

·        Cargo loads from Saudi Arabia in H2 June 2024 before heading to Jordan, set to arrive this week.

·        India sees pick-up in shipments from Qatar and Russia in June 2024.

·        Cargo, likely of very light grades, loads from Spain in late-June 2024 before heading to India, likely to arrive in Aug 2024.

·        Several cargoes load from northwest Europe in H2 June 2024 before heading to Nigeria, with shipments set to arrive last week and this week.

·        Cargo loads from northwest Europe in H1 June 2024, set to reach South Africa this week.

·        Cargo loadings from US show signs of rising in June 2024 from May 2024, with pick-up in shipments to Europe.

·        Cargo loads from US Gulf coast in H1 June 2024, set to reach South Africa this week.