Exports of premium-grade base oils from the Spanish port of Cartagena fell to a two-year low in November amid a slowdown in shipments to northwest Europe.Total exports of less than 25,000t in November fell from close to 40,000t the previous month and from more than 60,000t in September, port data showed.The November volume was even lower than during the second quarter of this year when scheduled plant maintenance work curbed export flows.Exports stayed lower than usual amid a pause in flows to India for a second month and a drop in shipments to northwest Europe to a five-month low.The premium of Europe’s Group III 4cst high price over the 4cst low price widened in November to a record-high.The widening premium reflected the tighter availability of supplies with OEM approvals versus supplies with limited or no OEM approvals..Spain’s Oct Cartagena premium-grade exports fall
Exports of premium-grade base oils from the Spanish port of Cartagena fell to a two-year low in November amid a slowdown in shipments to northwest Europe.Total exports of less than 25,000t in November fell from close to 40,000t the previous month and from more than 60,000t in September, port data showed.The November volume was even lower than during the second quarter of this year when scheduled plant maintenance work curbed export flows.Exports stayed lower than usual amid a pause in flows to India for a second month and a drop in shipments to northwest Europe to a five-month low.The premium of Europe’s Group III 4cst high price over the 4cst low price widened in November to a record-high.The widening premium reflected the tighter availability of supplies with OEM approvals versus supplies with limited or no OEM approvals..Spain’s Oct Cartagena premium-grade exports fall