Global base oils - week of Aug 28: Cargo flows

·        Steady flow of shipments from China continues to move to Singapore, following delivery of larger-than-usual volume so far in August.

·        Taiwan’s August-loading base oils shipments show signs of rising to more than 45,000t, from less than 25,000t in July.

·        Several large cargoes of light and heavy-grade Group II base oils from Taiwan set to reach India early this week.

·        Shipments from South Korea to US show signs of staying lower than usual in August, after already slowing in July.

·        Large cargo, likely of Group III base oils, loads from UAE in 2H Aug, likely bound for US.

·        Large cargo from Saudi Arabia set to reach India early this week.

·        Large cargo from Saudi Arabia set to reach UAE early next week.

·        August-loading cargo volumes from Saudi Arabia show signs of rebounding strongly vs July levels.

·        Cargo of Group III base oils from Bahrain reaches Europe early this week.

·        Cargo of Group III base oils from Bahrain set to reach southern Europe in early Sep 2023.

·        August-loading premium-grade cargo volumes from UAE/Bahrain show signs of staying higher than usual.

·        Several cargoes from US load around 1H Aug 2023, set to reach Argentina in 1H Sep 2023.

·        Steady flow of cargoes moves from Europe to Nigeria in August, with slowdown in flows from US.

·        August-loading shipments of premium-grade base oils from Spain show signs of slowing from July.