Global base oils cargo flows: Week of Feb 26

·        Cargo loadings from Taiwan in Feb 2024 fall sharply from Jan 2024.

·        Resumption of cargo loadings from Taiwan in H2 Feb 2024 remains slow.

·        Large cargo of Taiwan origin reaches India in recent days.

·        Singapore takes delivery of large cargo of Russian origin in H2 Feb 2024.

·        Shipment follows delivery of similar-sized cargo of Russian origin in late-Dec 2023.

·        Singapore takes delivery of more supplies from Qatar in H2 Feb 2024.

·        Shipments boost Singapore’s imports from Qatar so far in Feb 2024 to highest in more than seven years.

·        Cargo of Italian origin set to reach Singapore by mid-March 2024 after setting off in H1 Jan 2024 and travelling via southern Africa.

·        Previous shipment reached Singapore at end-Dec 2023, after leaving Italy less than a month earlier.

·        Cargo of Group I base oils loads from Saudi Arabia in H1 Feb 2024 before heading to India via Suez Canal and southern Africa; set to arrive in early April 2024.

·        Several cargoes that loaded from Saudi Arabia earlier in Feb 2024 moved to India directly via Red Sea.

·        Cargo from Saudi Arabia reaches South Africa in recent days, after loading in H1 Jan 2024 and traveling via Suez Canal and West Africa.

·        Spain’s exports of premium-grade base oils show signs of holding steady in Feb 2024 vs Jan 2024.

·        Cargo of Group II base oils loads from US Gulf coast in H2 Feb 2024 before heading to South Africa, set to arrive around mid-March 2024.

·        Cargo of Group I and Group II base oils from US set to reach Nigeria this week.

·        Cargo of Group II base oils from US set to reach Egypt this week.

·        Cargo of Group I base oils from Italy set to reach Nigeria in H2 Feb 2024.