Global base oils cargo flows: Week of March 4

·        Singapore takes delivery in late-Feb 2024 of Group I cargo originating from Greece.

·        Taiwan’s base oils exports stay low in 2H Feb 2024 even after domestic Group II plant’s resumption of normal operations.

·        Less than half of Taiwan’s base oils shipments move to China in Feb 2024, with a larger share moving to SE Asia and India.

·        Base oils shipment volumes from South Korea show signs of edging down in Feb 2024 from Jan 2024.

·        Volume of cargoes reaching US from South Korea in March 2024 likely to fall from Feb 2024.

·        Cargo of premium grades loads from South Korea in 1H Feb 2024, set to reach UAE in 2H March 2024.

·        Base oils exports from Saudi Arabia show signs of falling in Feb 2024 from previous month, with sharp slowdown in shipments in 2H Feb 2024.

·        Large cargo of Group III base oils from UAE set to reach US Gulf coast this week after loading in 2H Jan 2024.

·        Cargo of Group III base oils from Bahrain set to reach northwest Europe in coming days.

·        Large cargo of Russian origin set to reach Nigeria at beginning of March 2024.

·        Shipment adds to swathe of cargoes moving to Nigeria in recent weeks from US and Europe.

·        Large cargo of US origin set to reach Nigeria in coming days.

·        Cargo of Group II base oils loads from US in 2H Feb 2024, set to reach South Africa around mid-March 2024.

·        Large cargo, likely of very light grades, loads from Spain at end-Feb 2024 before heading to India.

·        Cargo of Group III base oils loads from Spain in early March 2024 before heading to Turkey.

·        Cargo loads from Italy in 1H Jan 2024, set to reach Singapore next week.