· Singapore’s base oils exports to India stay unusually low last week – extending trend that began in early April.· Singapore takes delivery of no base oils shipments from China last week for fourth straight week.· Pause in imports contrasts with sustained wave of shipments from China to Singapore in recent months.· Cargo of Chinese origin expected to reach Singapore in coming week.· Taiwan’s Group II base oils exports revive in early June vs 2H May amid wave of shipments to Singapore.· Large cargo from South Korea set to reach Saudi Arabia in 2H June.· Group I cargo of Thai origin reaches Mumbai at start of this week.· Saudi Arabia’s May base oils exports from ports of Yanbu/Jeddah show signs of falling sharply from April to four-month low.· Large cargo loads from Yanbu in early June before moving to Mumbai; set to arrive in mid-June.· Cargo of Group III base oils from UAE reaches Mumbai in past week.· Large cargo of Group III base oils from UAE set to reach US Gulf coast in coming week.· Cargo of Group III base oils loads from Bahrain in past week, likely bound for Europe.· Cargo of Group III base oils from Bahrain set to reach northwest Europe this week.· Large cargo of Group III+ base oils from Qatar set to reach US at beginning of July.· Shipments of premium-grade base oils from Spain stay lower than usual over past month.· Large cargo sets off from US in past week, likely bound for Mideast Gulf or India. Likely to reach destination in 1H July.· Large cargo loads from US in past week bound for South Africa; scheduled to arrive in early July.· Cargo of US origin, likely of Group I base oils, set to reach Nigeria in coming week.· Cargo of European origin set to reach Nigeria in 2H June..Global base oils – week of June 12: Price outlook – arbitrage
· Singapore’s base oils exports to India stay unusually low last week – extending trend that began in early April.· Singapore takes delivery of no base oils shipments from China last week for fourth straight week.· Pause in imports contrasts with sustained wave of shipments from China to Singapore in recent months.· Cargo of Chinese origin expected to reach Singapore in coming week.· Taiwan’s Group II base oils exports revive in early June vs 2H May amid wave of shipments to Singapore.· Large cargo from South Korea set to reach Saudi Arabia in 2H June.· Group I cargo of Thai origin reaches Mumbai at start of this week.· Saudi Arabia’s May base oils exports from ports of Yanbu/Jeddah show signs of falling sharply from April to four-month low.· Large cargo loads from Yanbu in early June before moving to Mumbai; set to arrive in mid-June.· Cargo of Group III base oils from UAE reaches Mumbai in past week.· Large cargo of Group III base oils from UAE set to reach US Gulf coast in coming week.· Cargo of Group III base oils loads from Bahrain in past week, likely bound for Europe.· Cargo of Group III base oils from Bahrain set to reach northwest Europe this week.· Large cargo of Group III+ base oils from Qatar set to reach US at beginning of July.· Shipments of premium-grade base oils from Spain stay lower than usual over past month.· Large cargo sets off from US in past week, likely bound for Mideast Gulf or India. Likely to reach destination in 1H July.· Large cargo loads from US in past week bound for South Africa; scheduled to arrive in early July.· Cargo of US origin, likely of Group I base oils, set to reach Nigeria in coming week.· Cargo of European origin set to reach Nigeria in 2H June..Global base oils – week of June 12: Price outlook – arbitrage