Global Base Oils Cargo Flows: Week To 7 August

Asia

·         Surge in Group II cargo loadings from Taiwan at end-July extended into early August, with a wave of shipments moving mostly to Southeast Asian markets, including the Philippines and Indonesia.

·         Cargo loaded from South Korea in early-July before heading to the US Gulf coast, arrived in recent days.

·         Singapore took delivery in the past week of its largest cargo from the UAE since last September, despite ongoing disruption to Middle East shipping.

·         Cargo loaded from Indonesia in early July, and another from Malaysia in first-half July, with both set to reach Europe in second-half August.

India/Middle East

·         Large cargo set to load from India in the coming days, following a recent wave of shipments moving to the US.

·         Similar cargo loaded from India in second-half June, set to arrive at the US Gulf coast in the coming week.

·         Another cargo loaded from India in early June, reached the US Gulf coast in recent days after stops in Brazil.

·         Cargo loaded from Saudi Arabia in mid-July before heading to Egypt, arrived at end of this week.

·         The cargo size suggested a portion of the shipment could continue on to other destinations including northwest Europe.

Europe/Americas

·         Cargo of premium-grade base oils loaded from Spain this week before heading to northwest Europe, set to arrive next week.

·         Smaller cargo of premium-grade base oils set to load from Spain next week before heading to Italy.

·         Cargo loaded from the US Gulf coast in mid-June, set to reach India in the coming days after stops in South Africa.