Global base oils cargo flows: Week of 3 November

·         Several large cargoes set to load from Taiwan in early-Nov 2025.

·         Size of shipments suggests that at least one of them is bound for India.

·         Cargo-loadings follow sharp slowdown in shipments from Taiwan in H2 Oct 2025.

·         Cargo of mostly heavy-grade base oils loads from Taiwan at end-Sept 2025 before heading to Singapore then UAE, reaches UAE in recent days.

·         Singapore takes delivery of shipment from Italy, France and Poland in past week.

·         Shipment from Italy is largest since early-2024.

·         Shipment arrives a month after start-up of new base oils unit in Singapore.

·         Cargo of Group III base oils loads from Indonesia at end-Oct 2025; destination remains unclear.

·         Several cargoes of Group III base oils load from Bahrain in H2 Sept 2025 before heading to Europe, set to arrive this week.

·         Cargo of Group III base oils loads from UAE in mid-Oct 2025 before heading to China, set to arrive in mid-Nov 2025.

·         Large cargo loads from Saudi Arabia in past week before heading to India, set to arrive in H1 Nov 2025.

·         Cargo of Group I base oils loads from Greece in early-Nov 2025 before heading to Nigeria, set to arrive in H2 Nov 2025.

·         Cargo loads from Argentina in early-Oct 2025 before heading to Nigeria, arrives in recent days.

·         Large cargo of Group II base oils loads from US in H1 Oct 2025 before heading to Europe, set to arrive this week.

·         Cargo of Group I base oils loads from US in H2 Oct 2025 before heading to western Africa, set to arrive in H1 Nov 2025.