Global base oils – week of June 26: Global cargo flows

·        Singapore takes delivery of another large cargo from China last week – following pause in flows in May.

·        Taiwan’s June base oils exports stay lower than usual, lagging volume levels in first three weeks of May 2023.

·        Large cargo, consisting mostly of heavy grades, loads from Taiwan in past week before moving to Singapore.

·        Shipment adds to wave of Taiwan shipments to southeast Asia in June.

·        Another cargo from China reaches Singapore in recent days.

·        Cargo, likely of Group II base oils, loads from South Korea in 1H June before heading to central America.

·        Cargo of Group I base oils from Thailand reaches India in past week.

·        Large shipments from Yanbu and Jeddah set to reach UAE in coming week.

·        Cargo of premium grades from Bahrain set to reach Turkey at beginning of July.

·        Cargo of premium grades from Bahrain set to reach northwest Europe at beginning of July.

·        Cargo of premium grades from Bahrain set to reach Mexico in early July.

·        Shipments from Saudi Arabia’s Yanbu shows signs of rebounding in June after falling to four-month low in May.

·        Cargo from Saudi Arabia, likely of Group II base oils, reaches India at end of last week.

·        Large cargo from Saudi Arabia, likely of Group II base oils, set to reach India in early July.

·        Cargo from Saudi Arabia, likely of Group II base oils, set to reach northwest Europe in coming week.

·        Cargo from Saudi Arabia, likely of Group I base oils, set to reach Europe in early July.

·        Group I cargo from Saudi Arabia to Europe would be second in three months, suggesting more regular flows to the region.

·        Cargo loads from Saudi Arabia in 1H June, set to reach US in 1H July.

·        Cargo from US, likely of Group II base oils, set to reach Nigeria at beginning of July.

·        Large cargo from US, likely of Group II base oils, set to reach India in mid-July.

·        Cargo from northwest Europe reaches Nigeria at end of last week.