Global base oils cargo flows: Week of March 11

·        Taiwan’s base oils export volumes stay lower than usual so far in March 2024.

·        Singapore takes delivery in past week of cargo that loaded from Saudi Arabia in early Feb 2024 before moving first to India via Red Sea.

·        Subsequent February-loading cargo from Saudi Arabia moves to India via western Africa. 

·        Cargo of Group III base oils loads from Indonesia in past week before heading to northwest Europe, set to arrive in H1 April 2024.

·        Large cargo loads from South Korea at end-Jan 2024, set to reach US Gulf coast in coming week.

·        Several cargoes from South Korea reach or set to reach UAE during March 2024.

·        Cargo loads from South Korea in past week before heading towards Mexico, set to arrive in H1 April 2024.

·        Slowdown in cargo loadings from Saudi Arabia shows signs of extending into March 2024.

·        Cargo loads from Saudi Arabia in recent days, with destination unclear.

·        Cargo from Bahrain set to reach US Gulf coast early next week, after loading in H2 Jan 2024.

·        Cargo of Group III base oils loads from UAE in past week before heading to US Gulf coast, set to arrive in H1 April 2024.

·        Cargo of Group III base oils loads from UAE in H2 Jan 2024, reaches US Gulf coast in past week.

·        Cargo of Group II base oils from US Gulf coast set to reach Nigeria this week.

·        Several cargoes load from US Gulf coast in H2 Feb 2024 before heading towards South Africa, set to arrive in H2 March 2024 and H1 April 2024.

·        Cargo of very light grades loads from Spain at end-Feb 2024, likely to reach India in Apr 2024.

·        Netherlands and Belgium take delivery of several Group III cargoes from Indonesia and Bahrain at end of last week.