Global base oils cargo flows: Week of 16 Dec

·         Cargo loadings from Taiwan stay slower in past week.

·         More muted activity repeats recent trend of slowdown in shipments in H1 each month, followed by rise in shipments in H2.

·         Singapore takes delivery of another shipment from Europe in past week.

·         Cargo loads from southern China at end-Nov 2024 before heading to India, arrives in recent days.

·         Cargo loads from South Korea in recent days before heading to US Gulf coast, set to arrive in H2 Jan 2025.

·         Volume of shipments from South Korea set to reach US Gulf coast in Jan 2025 remains low so far, even if higher than in Dec 2024.

·         Cargo of Group III base oils loads from UAE in H2 Nov 2024 before heading to US Gulf coast, set to arrive in early-Jan 2025.

·         Large cargo of very-light grade base oils loads from Spain in H1 Dec 2024 before heading to India, set to arrive around mid-Jan 2025.

·         Large cargo of premium-grade base oils loads from Spain in H1 Dec 2024 before heading to northwest Europe.

·         Shipment is second to northwest Europe since late-Nov 2024, pointing to resumption of regular flows.

·         Cargo loads from northwest Europe around mid-Nov 2024, set to reach Singapore next week.

·         Large cargo loads from US Gulf coast in past week before heading to South Africa, set to arrive in H1 Jan 2025.

·         Size of cargo suggests large portion of shipment likely bound for outlets beyond South Africa, such as UAE or India.

·         Cargo from US to Nigeria set to arrive next week after loading in early-Dec 2024.

·         Cargo set to load from US east coast in coming week; size of shipment suggests it is bound for market like Africa.