Global base oils – week of Nov 6: Cargo flows

·        Singapore takes delivery of more Group I supplies from Italy over past week.

·        Trend shows signs of continuing, following closure of Group I plant in Japan in Oct 2023.

·        Singapore takes delivery of more supplies from China over past week.

·        Cargoes add to swathe of shipments from China to Singapore over past month.

·        Taiwan’s slump in Group II shipments extends into Nov 2023 amid ongoing plant maintenance work.

·        Saudi Arabia’s base oils exports show signs of rising in Oct 2023 vs previous month.

·        Large cargo from Saudi Arabia reaches India in early Nov 2023.

·        Cargo loads from Saudi Arabia in late-Oct 2023 before heading to France; set to arrive in mid-Nov 2023.

·        Cargo of Group III base oils from Bahrain set to reach northwest Europe around mid-Nov 2023.

·        Cargo of Group III base oils from Bahrain reaches US Gulf coast at beginning of Nov 2023.

·        Large cargo of Group III base oils loads from UAE in 1H Oct 2023, set to reach US Gulf coast around mid-Nov 2023.

·        Cargo of Group III base oils loads from UAE in early Nov 2023, set to reach India in coming week.

·        Cargo, likely of Group I base oils, loads from Spain at end-Oct 2023, reaches Senegal in early Nov 2023.

·        Signs of pick-up in flows from US to South Africa in recent months extends into Nov 2023.

·        Large cargo, likely of Group II base oils, loads from US Gulf coast in mid-Oct 2023 before heading to Lagos, Nigeria. Set to arrive in coming week.

·        Cargo from northwest Europe set to reach Nigeria within next two weeks.