Global base oils – week of Oct 16: Cargo flows

·        Shipments from Taiwan almost completely pause so far in October, reflecting impact of plant maintenance work.

·        September-loading shipment from Taiwan reaches India at start of this week, with combination of light and heavy grades.

·        Shipments from South Korea to US slow down sharply in recent weeks after pick-up in cargo flows in 2H Aug and 1H Sep 2023.

·        August-loading cargo of Group III base oils from Bahrain set to reach US Gulf coast early this week.

·        Shipment from Saudi Arabia discharges supplies in South Africa last week before continuing on to Nigeria.

·        Shipment from Algeria scheduled to reach Brazil in coming week.

·        Shipment from Turkey set to reach Tunisia early this week.

·        October-loading cargo from northwest Europe set to reach Nigeria at start of this week.

·        September-loading cargo from US set to reach Nigeria at start of this week.

·        September-loading cargo from US set to reach Egypt at start of this week.

·        Larger-than-usual cargo loads from US Gulf coast in mid-Oct 2023 before heading to South Africa, set to arrive in 1H Nov 2023.