Global base oils - week of Sep 11: Cargo flows

·        Taiwan ships large volume of Group II supplies in early September, with more than half the volume bound for southeast Asia.

·        Taiwan’s shipments so far in September include larger volume of heavy grades than light grades, contrasting with its August shipments.

·        Cargo loads from South Korea in early September before heading to Chile.

·        Larger cargo loads from South Korea in early September before heading to US Gulf coast.

·        Cargo follows several shipments lined up from South Korea to US Gulf coast in late August, raising prospect of rebound in shipments reaching US Gulf coast in September.

·        Pick-up in flows follows slowdown in shipments from South Korea to US Gulf coast in June and July, with sharp fall in cargoes reaching US Gulf coast in August.

·        Large cargo of Group III base oils loads from UAE in 2H Aug, set to reach Mediterranean market later this week.

·        Cargo of Group III base oils loads from UAE in early September, set to reach India later this week.

·        Large cargo of Group III base oils loads from Bahrain in late August, set to reach Mediterranean market later this week.

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

·        Cargo, likely of Group I base oils, loads from Saudi Arabia in early Sep 2023 before heading to Egypt, set to arrive at start of this week.

·        Cargo of Group I base oils loads from Singapore in late August before heading towards Mideast Gulf, set to arrive early next week.

·        Cargo from Thailand reaches India in late-August, with volumes consisting mostly of bright stock.

·        Several large cargoes of premium-grade base oils load from Spain in early September, with the volume already exceeding total exports in August.

·        Flow of arbitrage cargoes to West Africa extends slowdown.

·        Vessel that moved base oils shipments from Russia to Nigeria in May and July heads towards West Africa again.

·        Several large shipments from US set to reach Europe later this month.