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A sustained wave of Asian base oils cargoes is moving to the US, with unusual shipments from Singapore and India adding to more established South Korean flows
Shipments from Asia to Europe have continued into September, with the export pull extending beyond the period when Asian suppliers typically seek outlets for surplus
Saudi Arabian shipments remain unusually low after a prolonged third quarter slowdown, with October maintenance set to extend the disruption into the fourth quarter
Asia
· A large cargo with a combination of Group II light and heavy grades loaded from Taiwan in the past week headed to South Korea.
· South Korea is an infrequent destination for Taiwan cargoes, suggesting its final destination could be another market like the US.
· A cargo of Group II base oils loaded from Taiwan in early September headed to Europe, with arrival due in second-half October.
· A cargo loaded from China in early September headed to India, with arrival due in the coming days.
· Several unusually large cargoes loaded from Singapore in the past week headed to Spain, the Netherlands and the US.
· The cargoes added to a surge in shipments to the US in recent weeks, reversing a recent wave of cargoes from Europe and US to Singapore.
· A cargo loaded from Singapore in first-half August headed to the US Gulf coast region, with arrival due in the coming week.
India/Middle East
· A large cargo was set to load from India this week, with the US a likely destination.
· A cargo loaded from India in first-half August headed to the US Gulf coast, with arrival due in the coming week.
· A prolonged slowdown in shipments from Saudi Arabia extended through September.
· A cargo loaded from Saudi Arabia in late August headed to Northwest Europe, with arrival due in the coming days.
Europe/Americas
· A large cargo of premium-grade base oils was scheduled to load from Spain in the coming days, with the destination unclear.
· The cargo would be the first large shipment from Spain in a month.
· A cargo loaded from Spain in second-half August headed to India, with arrival due in the coming week.
· A cargo loaded from Northwest Europe in early August headed to Singapore, with arrival due in the coming week.
· A cargo loaded from the US Gulf coast in the past week headed to South Africa, with arrival due around a month later.
