Exports of premium-grade base oils from the Spanish port of Cartagena fell to a two-year low in June as scheduled plant maintenance work cut supply.Base oils exports of around 26,000t from Cartagena in June fell from close to 30,000t the previous month, port data showed.The slowdown in shipments cut total exports from Cartagena to around 110,000t during the second quarter, down from more than 180,000t during the first three months of the year.Exports fell as scheduled maintenance work at a key Group III base oils unit in Spain began in May and extended into June.Europe’s Group III base oils prices faced growing downward pressure during the second quarter of the year as supply tightness eased.But prices for supplies with OEM approvals stayed much firmer than prices for supplies with limited or no approvals.Spain is a key source of Group III base oils with OEM approvals..Spain’s April base oils supply falls
Exports of premium-grade base oils from the Spanish port of Cartagena fell to a two-year low in June as scheduled plant maintenance work cut supply.Base oils exports of around 26,000t from Cartagena in June fell from close to 30,000t the previous month, port data showed.The slowdown in shipments cut total exports from Cartagena to around 110,000t during the second quarter, down from more than 180,000t during the first three months of the year.Exports fell as scheduled maintenance work at a key Group III base oils unit in Spain began in May and extended into June.Europe’s Group III base oils prices faced growing downward pressure during the second quarter of the year as supply tightness eased.But prices for supplies with OEM approvals stayed much firmer than prices for supplies with limited or no approvals.Spain is a key source of Group III base oils with OEM approvals..Spain’s April base oils supply falls