· Singapore takes delivery last week of cargo from US – shipment is largest from that market in more than a year.· Singapore takes delivery last week of first shipment from Saudi Arabia in more than a month.· Surge in shipments from Taiwan continues for second week in August, especially for light grades.· Shipments from Taiwan in 1H Aug 2023 likely to be similar to or higher than total July 2023 volume.· Shipments from Taiwan in 1H Aug 2023 include large cargo to India, set to arrive in late August 2023.· Cargo loads from South Korea at end-June, reaches southern Europe in past week.· Cargo, likely of Group II base oils, loads from South Korea in early July, reaches UAE in recent days.· Large cargo of Group III base oils loads from UAE in past week, set to reach India this week.· Cargo of Group III base oils loads from Bahrain in late July, set to reach northwest Europe in 2H August.· Cargo of Group III base oils loads from Bahrain in mid-July, set to reach US Gulf coast in 2H August.· Large cargo of Group I and Group II base oils loads from Saudi Arabia in early August, set to reach India this week.· Cargo of Group II base oils loads from China at end-July, adds Group II base oils from Taiwan in early August, set to reach India in 2H August.· Large cargo, likely of N70, loads from Spain in early August, set to reach India at end-August.· Large cargo, likely of Group II base oils, loads from US west coast in late July, set to reach northwest Europe in 2H August.· Cargo follows pause in shipments from US west coast to northwest Europe in June.· Cargo, likely of Group II base oils, loads from US in 2H July, reaches Nigeria at end of last week.· Shipment would be second to reach Nigeria last week – in additional to arrival of cargo from northwest Europe.· Another cargo from northwest Europe set to reach Nigeria in 2H August.· Cargo, likely of Group II base oils, loads from US Gulf coast at end-June, set to reach India this week.· Cargo from US Gulf coast loads from US in 2H July, reaches northwest Europe in 1H August.· Cargo from US Gulf coast set to reach Turkey next week..Global base oils - week of Aug 14: Price outlook - margins
