Base oils shipments from Saudi Arabia's ports of Yanbu and Jeddah fell to a five-month low in July, slashing volumes to the key outlets of UAE and India.Total shipments of more than 35,000 tonnes from Yanbu and Jeddah in July fell from more than 65,000 tonnes the previous month and more than 85,000 tonnes in May, provisional shipping data showed.The volume was the lowest since February.The drop in shipments to the UAE and India coincided with and cushioned the impact of a seasonal slowdown in demand in those markets during the summer months.It also partially balanced out a pick-up in base oils exports from key suppliers in the Asia-Pacific in the month of July, limiting the pace of any supply-build in the region.More shipments moved instead to other outlets like the US and South Africa.Demand in the US got support from tighter-than-expected supply in July and August amid a round of stock-building during the Atlantic hurricane season.South Africa’s total reliance on base oils imports sustained firm demand for supplies from sources like Saudi Arabia.The shipments continued to move to the country via the Suez Canal and western Africa.South Africa’s base oils imports of more than 13,000 kilolitres (12,100 tonnes) from Saudi Arabia in the first half of the year lagged year-earlier levels of close to 19,000 kilolitres.Its imports were set to exceed year-earlier levels following the expected arrival of the July-loading shipments from Saudi Arabia in the coming weeks.Base oils shipments from Yanbu and Jeddah showed signs of rebounding in the month of August, including to the UAE and India..Global base oil exports to Mideast Gulf fall in June.India’s July base oils imports fall
Base oils shipments from Saudi Arabia's ports of Yanbu and Jeddah fell to a five-month low in July, slashing volumes to the key outlets of UAE and India.Total shipments of more than 35,000 tonnes from Yanbu and Jeddah in July fell from more than 65,000 tonnes the previous month and more than 85,000 tonnes in May, provisional shipping data showed.The volume was the lowest since February.The drop in shipments to the UAE and India coincided with and cushioned the impact of a seasonal slowdown in demand in those markets during the summer months.It also partially balanced out a pick-up in base oils exports from key suppliers in the Asia-Pacific in the month of July, limiting the pace of any supply-build in the region.More shipments moved instead to other outlets like the US and South Africa.Demand in the US got support from tighter-than-expected supply in July and August amid a round of stock-building during the Atlantic hurricane season.South Africa’s total reliance on base oils imports sustained firm demand for supplies from sources like Saudi Arabia.The shipments continued to move to the country via the Suez Canal and western Africa.South Africa’s base oils imports of more than 13,000 kilolitres (12,100 tonnes) from Saudi Arabia in the first half of the year lagged year-earlier levels of close to 19,000 kilolitres.Its imports were set to exceed year-earlier levels following the expected arrival of the July-loading shipments from Saudi Arabia in the coming weeks.Base oils shipments from Yanbu and Jeddah showed signs of rebounding in the month of August, including to the UAE and India..Global base oil exports to Mideast Gulf fall in June.India’s July base oils imports fall
