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Taiwan's exports continued recovering in late July, while Singapore relied on imports from the US and Europe to supplement domestic supply
South Korea maintained strong long-haul shipments to the Americas, extending its role as a key supplier to export markets during the Group III supply squeeze
Saudi Arabia's cargo loadings slowed ahead of August maintenance, increasing the importance of alternative supply sources as seasonal demand begins to recover in Asia
Asia
· Cargo-loadings from Taiwan extended their rebound, with a surge in shipments in the last 10 days of July.
· Cargo carrying a combination of Group II light and heavy grades loaded from Taiwan in the past week before heading to South Korea.
· Shipments from Taiwan to South Korea often then move on to other markets like the Americas.
· Large cargo of Group II light and heavy grades loaded from Taiwan in the past week before heading to India, expected to arrive by mid-August.
· Cargo loaded from South Korea at end-June before heading to the US Gulf coast, set to arrive in the coming week, with another shipment due the following week.
· Cargo loaded from South Korea in second-half June before heading to Brazil, set to arrive in first-half August.
· Singapore took delivery of large shipments from the Netherlands and US in the past week, lifting the island-state’s total July imports to multi-year highs.
· Singapore-bound cargoes from US and Europe show signs of slowing over the following weeks.
· Cargo of Group III base oils set to load from Indonesia in the coming week, with Europe a likely destination.
India/Middle East
· Cargo loaded from India in the past week before heading to Southeast Asia, set to arrive in the coming days.
· Cargo loadings from Saudi Arabia showed signs of slowing in recent weeks, after a pick-up in June.
Europe/Americas
· Cargo loaded from Northwest Europe last week before heading to Nigeria, set to arrive in first-half August.
· Another cargo loaded from Northwest Europe at the end of this week before heading to Nigeria, set to arrive around mid-August.
· Cargo loaded from US Gulf coast in mid-June before heading to South Africa, then India, set to reach India in early August.
· Cargo-loadings from US to Brazil showed signs of rising in July from June but remained well below May levels.
