Global base oils – week of March 13: Cargo flows

·        Singapore’s weekly shipments to China surge last week to highest in more than a year.

·        Singapore’s shipments to China last week exceed island-state’s monthly exports to China over most of past year.

·        Taiwan’s base oils exports in first twelve days of March already exceed total February shipments – following delay of several February cargoes.

·        Large March-loading cargo from Taiwan with combination of very light, light and heavy grades expected to reach India over coming week.

·        Cargo of Group II heavy grades from Taiwan set to reach Netherlands in coming week.

·        Large cargo from India loads early this week, with destination unclear.

·        Large cargo of Group III base oils loads from UAE in past week. Size of cargo suggests destination likely to be US.

·        Cargo of Group III base oils from UAE reaches India last week.

·        Cargo of Group III base oils from Bahrain set to reach India in coming week.

·        Cargo from Spain, likely of very light grades, reaches India over past week.

·        Cargo from Romania reaches India over past week.

·        Cargo of Group III base oils from Bahrain set to reach northwest Europe early this week.

·        Argentina takes delivery in past week of arbitrage Group I cargo from Greece.

·        Cargo from northwest Europe set to reach Nigeria in coming week.

·        Flow of arbitrage cargoes from Europe to Nigeria falls compared with end-2022/early 2023.

·        Kenya sees no base oil cargo arrivals for almost three months.