Global Base Oils Cargo Flows: Week To 17 July

Asia

·         Taiwan cargo loadings stayed unusually low for a second week, leaving first-half July volumes below month-earlier levels.

·         Singapore took delivery of a swathe of shipments from the Netherlands and US, extending strong inflows over the previous week.

·         Singapore also received a large cargo from Qatar, after an almost complete pause in such flows for most of the past two months.

·         Large cargo loaded from South Korea this week before heading to the US Gulf coast, set to arrive in second-half August.

·         Large cargo of premium-grade base oils loaded from South Korea in early June before heading to the US Gulf coast, arrived in recent days.

·         Cargo loaded from South Korea in second-half June before heading to South Africa, set to arrive in second-half July.

·         Cargo loaded from China in second-half June before heading to Pakistan, arrived in recent days.

India/Middle East

·         Cargo of premium-grade base oils loaded from India in late-May before heading to the US Gulf coast, arrived in recent days.

·         Cargo of premium-grade base oils remained in the Persian Gulf, to the west of the Strait of Hormuz.

·         Cargo loaded from Saudi Arabia in recent days before heading to Jordan, set to arrive in the coming days.

·         The size of the shipment suggested it was likely to head on to other outlets such as Europe.

Europe/Americas

·         Cargo of premium-grade base oils loaded from Spain in the past week before heading to Northwest Europe, set to arrive at the end of this week.

·         Cargo loaded from the US Gulf coast this week before heading to South Africa, set to arrive in mid-August.

·         Size of shipment suggested that it will then head on to other outlets like India or Pakistan.

·         Cargo loaded from the US Gulf coast in early June before heading to Singapore, set to arrive in the coming week.