Global base oils - week of July 24: Cargo flows

·        Delivery of base oils shipments to Singapore falls last week to less than 1,000t - weekly volume is lowest in more than a year.

·        Singapore’s weekly shipments to southeast Asia rise last week to highest since February.

·        Taiwan sees jump in July-loading base oils shipments over past week, with most of the cargoes moving to China.

·        Taiwan’s July volumes remain lower than usual.

·        Cargo, likely of Group II base oils, loads from South Korea in early July, set to reach UAE at beginning of August.

·        Cargo of Group III base oils loads from UAE last week, set to reach India this week.

·        Cargo is second such shipment from UAE to India in July.

·        Large cargo of Group III base oils loads from UAE in early July, set to reach northwest Europe by end-July.

·        Large cargo of Group III base oils loads from UAE in late June, set to reach US Gulf coast by end-July.

·        Large cargo of Group III base oils loads from Bahrain in early July, set to reach northwest Europe in early August.

·        Another cargo from Bahrain set to reach Europe this week.

·        Large cargo of Group III base oils from Bahrain set to reach Turkey at beginning of August.

·        Cargo of Group III base oils from Bahrain reaches India in past week.

·        Cargo loads from US in early June, reaches India this and last week.

·        Number of cargoes loading from US in recent weeks - before moving to India/Mideast Gulf - shows signs of slowing compared with June.

·        Cargo loads from Saudi Arabia’s Yanbu in mid-July, set to reach East Africa in coming week.

·        Large cargo of premium grades loads from Spain in past week bound for northwest Europe.

·        July-loading premium-grade cargoes from Spain rebound to more typical levels after dipping in May-June 2023.

·        Cargo set to reach Brazil in coming week after leaving Singapore in early July.