Base oils shipments from Saudi Arabia’s ports of Yanbu and Jeddah rose in August, highlighting their growing role as an increasingly key source of supplies for markets everywhere from Europe and US to India and southeast Asia.Total shipments of more than 65,000 tonnes from Yanbu and Jeddah in August rose from less than 40,000 tonnes the previous month, provisional shipping data showed.The July volume was close to the lowest this year.The August volume was well above typical volumes of around 55,000 tonnes/month so far this year.Shipments from the two ports showed signs of rising even higher in September, including an increase in flows to India and Europe.The pick-up in shipments to India this and last month would coincide with a typical rise in the country’s base oils and lube demand during the festive season over the coming months.India’s reliance on supplies from sources like Saudi Arabia could increase over the coming weeks while a key Group II plant in South Korea is offline for maintenance work.South Korea is India’s largest overseas base oils supplier.Europe’s growing demand for overseas supplies of Group I base oils also added to the attraction of shipments from Saudi Arabia.Another cargo from Saudi Arabia was scheduled to reach Europe in the coming days.Singapore has also become an increasingly regular destination for shipments from Saudi Arabia.The island-state’s imports from the country rose strongly since the start of the second half of the year, including the arrival of a large shipment in early September.The rise in shipments from Saudi Arabia coincided with increasingly tight Group I base oils supply in the Asia-Pacific region following the closure of several plants in Japan in recent years.Another Group I plant is also set to close in China in October..India’s August base oils imports fall.S Korea’s August base oils exports rise.Global base oils exports to Middle East rise in July
Base oils shipments from Saudi Arabia’s ports of Yanbu and Jeddah rose in August, highlighting their growing role as an increasingly key source of supplies for markets everywhere from Europe and US to India and southeast Asia.Total shipments of more than 65,000 tonnes from Yanbu and Jeddah in August rose from less than 40,000 tonnes the previous month, provisional shipping data showed.The July volume was close to the lowest this year.The August volume was well above typical volumes of around 55,000 tonnes/month so far this year.Shipments from the two ports showed signs of rising even higher in September, including an increase in flows to India and Europe.The pick-up in shipments to India this and last month would coincide with a typical rise in the country’s base oils and lube demand during the festive season over the coming months.India’s reliance on supplies from sources like Saudi Arabia could increase over the coming weeks while a key Group II plant in South Korea is offline for maintenance work.South Korea is India’s largest overseas base oils supplier.Europe’s growing demand for overseas supplies of Group I base oils also added to the attraction of shipments from Saudi Arabia.Another cargo from Saudi Arabia was scheduled to reach Europe in the coming days.Singapore has also become an increasingly regular destination for shipments from Saudi Arabia.The island-state’s imports from the country rose strongly since the start of the second half of the year, including the arrival of a large shipment in early September.The rise in shipments from Saudi Arabia coincided with increasingly tight Group I base oils supply in the Asia-Pacific region following the closure of several plants in Japan in recent years.Another Group I plant is also set to close in China in October..India’s August base oils imports fall.S Korea’s August base oils exports rise.Global base oils exports to Middle East rise in July
