Taiwan’s base oils exports rose to a four-month high in November, with shipments to the Middle East surging to the highest in more than two years. The rise in shipments to the Middle East contrasted with a dip in flows to southeast Asia.The dynamic pointed to insufficient buying interest in southeast Asia or India to absorb more of Taiwan's supplies.Total total base oils exports of 53,800 tonnes in November rose from 37,500 tonnes the previous month, government data showed.The volume was higher than usual, exceeding the 50,000 tonne/month level for the third time this year and for the fifth time since the start of 2023.Exports got a boost partly because some October-loading shipments were delayed to November because of adverse weather at end-October.Group II light grades accounted for a larger share of the November-loading shipments. The volume of heavy-grade supplies was only slightly lower than the light grades.The rise in base oils exports helped to meet firm buying interest in India.Exports of close to 12,400 tonnes to the country in November were the second-highest in twenty months. The rise in shipments helped to partially balance out an ongoing dearth of arbitrage shipments from the US to India in the fourth quarter of the year.The shipment of an even larger volume of base oils to the UAE suggested that buyers in India were comfortable to turn down the availability of additional supplies.Exports of 14,500 tonnes to the UAE in November were the highest since the third quarter of 2022.Exports to that market tended to be more sporadic.The rise in shipments pointed to a pick-up in surplus volumes in response to insufficient demand in the key outlets of China, southeast Asia and India.Exports of 5,400 tonnes to southeast Asia in November fell from 17,000 tonnes the previous month to the third-lowest level this year.The higher volumes in October coincided with a sharp pick-up in Asia-Pacific base oils exports to southeast Asia that month.The drop in exports in November suggested buyers in southeast Asia were now comfortable with existing supplies at a time when demand faced a seasonal slowdown..China’s November base oils output falls.India’s October base oils imports mixed.Global exports to Middle East fall in September
Taiwan’s base oils exports rose to a four-month high in November, with shipments to the Middle East surging to the highest in more than two years. The rise in shipments to the Middle East contrasted with a dip in flows to southeast Asia.The dynamic pointed to insufficient buying interest in southeast Asia or India to absorb more of Taiwan's supplies.Total total base oils exports of 53,800 tonnes in November rose from 37,500 tonnes the previous month, government data showed.The volume was higher than usual, exceeding the 50,000 tonne/month level for the third time this year and for the fifth time since the start of 2023.Exports got a boost partly because some October-loading shipments were delayed to November because of adverse weather at end-October.Group II light grades accounted for a larger share of the November-loading shipments. The volume of heavy-grade supplies was only slightly lower than the light grades.The rise in base oils exports helped to meet firm buying interest in India.Exports of close to 12,400 tonnes to the country in November were the second-highest in twenty months. The rise in shipments helped to partially balance out an ongoing dearth of arbitrage shipments from the US to India in the fourth quarter of the year.The shipment of an even larger volume of base oils to the UAE suggested that buyers in India were comfortable to turn down the availability of additional supplies.Exports of 14,500 tonnes to the UAE in November were the highest since the third quarter of 2022.Exports to that market tended to be more sporadic.The rise in shipments pointed to a pick-up in surplus volumes in response to insufficient demand in the key outlets of China, southeast Asia and India.Exports of 5,400 tonnes to southeast Asia in November fell from 17,000 tonnes the previous month to the third-lowest level this year.The higher volumes in October coincided with a sharp pick-up in Asia-Pacific base oils exports to southeast Asia that month.The drop in exports in November suggested buyers in southeast Asia were now comfortable with existing supplies at a time when demand faced a seasonal slowdown..China’s November base oils output falls.India’s October base oils imports mixed.Global exports to Middle East fall in September
