Global base oils – week of Nov 20: Cargo flows

·        Singapore takes delivery of large cargo from Qatar in past week.

·        Shipment follows slowdown in flows from Qatar to Singapore over past two months.

·        Cargo of Group II base oils loads from Taiwan in past week before heading to Singapore.

·        Cargo is rare shipment from Taiwan in Nov 2023, amid ongoing plant maintenance work.

·        Large cargo loads from South Korea in mid-Nov 2023 before heading to US.

·        Shipment set to sustain high volumes reaching US from South Korea during Q4 2023.

·        Cargo from South Korea set to reach Saudi Arabia in 2H Nov 2023.

·        Large cargo loads from Bahrain at start of this week; destination unclear.

·        Large cargo of Group III base oils from UAE reaches US Gulf coast in recent days.

·        Cargo of Europe or Baltic origin set to reach Nigeria at start of this week.

·        Cargo loads from US in Sep 2023, reaches India in past week.

·        Cargo loads from US in past week before heading to South Africa.

·        Shipment adds to wave of supplies from US set to reach South Africa in coming few weeks.

·        Spain’s premium-grade base oils exports stay relatively low so far in Nov 2023.