Global base oils exports to key markets in Africa fell in September as shipments from Europe dipped to a ten-month low.Exports from the US to the region stayed higher than usual, cushioning the slowdown.Even so, the volatility of flows from the US highlighted the need for buyers to line up more regular shipments to ensure security of supply.Total base oils exports to Egypt, Nigeria, South Africa and Kenya combined fell to less than 60,000 tonnes in September, government data showed.The supplies originated from Europe and US, as well as some shipments from other sources like Asia.The volume fell from more than 90,000 tonnes in August and for the seventh time in eight months from year-earlier levels.The contraction cut total exports to the four countries by 11% in the first nine months of the year from year-earlier levels.Exports from Europe fell by 6% during that period, by 14% from the US and by more than 25% from other sources.The smaller drop in shipments from Europe highlighted its ongoing role as the key source of supplies for Africa, even as its base oils production capacity continued to shrink.The larger drop in shipments from the US reflected the role of markets like Nigeria as an outlet for its surplus supplies and the more intermittent availability of those surplus volumes.The even larger drop in shipments from other markets like Asia highlighted that region’s tighter supply this year and the logistically easier option of moving surplus volumes to other outlets like the Middle East.Exports from Europe would have been even lower in September but for the shipment of a large cargo to Nigeria.The shipment reached the West African country in early October after loading from Greece at the beginning of September.Greece’s base oils exports in September included no shipments to Nigeria, government data showed.The disparity suggested the shipment may have originated from another source in the Mediterranean or Black Sea region before moving to Nigeria..Global exports to Middle East fall in September.Global exports to Africa rise in August
Global base oils exports to key markets in Africa fell in September as shipments from Europe dipped to a ten-month low.Exports from the US to the region stayed higher than usual, cushioning the slowdown.Even so, the volatility of flows from the US highlighted the need for buyers to line up more regular shipments to ensure security of supply.Total base oils exports to Egypt, Nigeria, South Africa and Kenya combined fell to less than 60,000 tonnes in September, government data showed.The supplies originated from Europe and US, as well as some shipments from other sources like Asia.The volume fell from more than 90,000 tonnes in August and for the seventh time in eight months from year-earlier levels.The contraction cut total exports to the four countries by 11% in the first nine months of the year from year-earlier levels.Exports from Europe fell by 6% during that period, by 14% from the US and by more than 25% from other sources.The smaller drop in shipments from Europe highlighted its ongoing role as the key source of supplies for Africa, even as its base oils production capacity continued to shrink.The larger drop in shipments from the US reflected the role of markets like Nigeria as an outlet for its surplus supplies and the more intermittent availability of those surplus volumes.The even larger drop in shipments from other markets like Asia highlighted that region’s tighter supply this year and the logistically easier option of moving surplus volumes to other outlets like the Middle East.Exports from Europe would have been even lower in September but for the shipment of a large cargo to Nigeria.The shipment reached the West African country in early October after loading from Greece at the beginning of September.Greece’s base oils exports in September included no shipments to Nigeria, government data showed.The disparity suggested the shipment may have originated from another source in the Mediterranean or Black Sea region before moving to Nigeria..Global exports to Middle East fall in September.Global exports to Africa rise in August
