Global base oils – week of July 10: Cargo flows

·        Singapore ships no supplies to India last week for first time in more than a month.

·        Singapore’s shipments to China fall last week to lowest in more than a month.

·        Cargo from Taiwan with combination of light and heavy grades reaches Singapore at start of this week.

·        Cargo from Taiwan with combination of light and heavy grades set to reach India at beginning of this week.

·        Cargo loadings from Taiwan stay lower than usual so far in July.

·        Cargo volumes reaching US from South Korea set to rise in July after sharp dip in June.

·        Large cargo of Group III base oils loads from UAE in early July, likely bound for Europe or US.

·        Cargo of Group III base oils from Bahrain reaches southern Europe at start of this week.

·        Large cargo of premium-grade base oils from Qatar reaches US Gulf coast in past week.

·        Cargo with combination of Group I and Group II base oils loads from Yanbu/Jeddah in past week, set to reach UAE by end of this week.

·        Cargo, likely of Group I base oils, loads from Yanbu in 1H June, set to reach US early this week.

·        Cargo, likely of very-light grades, loads from Spain in late June, set to reach India by mid-July.

·        Large cargo from Spain moves to Belgium over past week. Cargo is first such large shipment from Spain to northwest Europe since early May.

·        Two large cargoes of US origin set to reach India around 15-20 July.

·        Cargoes from US already reached India in early July.

·        Another cargo of US origin scheduled to reach India in early August.

·        Cargo from Baltic region set to reach Nigeria around end of this week.

·        Cargo from northwest Europe set to reach Kenya early this week.