Global base oils cargo flows: Week of 15 July

·        Several large cargoes load from Taiwan in past week, extending rebound in shipments since H2 June 2024.

·        Unusually large share of the shipments move to southeast Asia, with small volume bound for China.

·        Singapore takes delivery last week of cargo of US origin.

·        Shipment from US is first in more than a month, adds to steady flows from US since end-Feb 2024.

·        Several cargoes load from South Korea in H1 July 2024 before heading to US.

·        Cargoes follow pause in such flows in recent weeks; size of cargoes remains lower than usual.

·        Cargo loads from South Korea in past week before heading to US East coast, set to arrive in H2 Aug 2024.

·        Most shipments from South Korea move to US Gulf coast rather than US East coast.

·        Cargo loads from Malaysia in past week before heading to northwest Europe, set to arrive in H2 Aug 2024.

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

·        Large cargo loads from Saudi Arabia in past week before heading towards Suez Canal.

·        Cargo loads from Saudi Arabia in recent days before heading to UAE, set to arrive next week.

·        Cargo of Group II base oils loads from US Gulf coast in early June 2024, set to reach India this week.

·        Cargo loads from US Gulf coast in early July 2024 before heading to South Africa, set to arrive in early Aug 2024.

·        Cargo loads from US Gulf coast at end-June 2024 before heading to Nigeria, set to arrive in H1 Aug 2024.

·        Cargo of Group I base oils loads from US east coast in early July 2024 before heading to northwest Europe, set to arrive this week.

·        Cargo, likely of very light grades, loads from Spain at end-June 2024, set to reach India by end-July 2024.

·        Cargo loads from northwest Europe in past week before heading to Nigeria, set to arrive in early Aug 2024.