Global base oils – week of Dec 11: Cargo flows

·        Group II base oils cargo with combination of light and heavy grades set to load from Taiwan at start of this week.

·        Cargo would be first to load from Taiwan in almost two weeks, following slump in shipments in Oct and Nov 2023 because of plant maintenance.

·        Cargo from South Korea set to reach US Gulf coast this week.

·        Shipment follows arrival of several other cargoes from South Korea so far in Dec 2023 and ahead of arrival of more supplies in 2H Dec 2023.

·        Pick-up in shipments to US follow slowdown in cargo arrivals from South Korea in Nov 2023.

·        Cargo loads from Saudi Arabia in early Dec 2023 before heading to US Gulf coast, set to arrive in early Jan 2024.

·        Cargo from Saudi Arabia scheduled to reach Italy in 2H Dec 2023.

·        Cargo of premium-grade base oils from UAE reaches West-coast India in past week, set to reach East-coast India in coming week.

·        Cargo of premium-grade base oils from UAE set to reach US Gulf coast in early-Jan 2024.

·        Cargo of premium-grade base oils from UAE set to reach China in coming week.

·        Cargo of Group III base oils from Bahrain set to reach Spain in coming week.

·        Cargo of Group II base oils from US set to reach South Africa in coming week.

·        Cargo of Group II base oils from US set to reach India next week.

·        Cargo loads from Italy at end-Nov 2023, set to reach Singapore in 2H Dec 2023.

·        Large cargo of premium-grade base oils loads from Spain in past week before heading to northwest Europe.

·        Shipment is first from Spain to northwest Europe in more than a month.