· Singapore takes delivery of almost no cargoes last week amid ongoing pause in shipments from Japan, slowdown in shipments from China.· Large cargo from Italy scheduled to reach Singapore in coming week.· Shipment would be first from Europe to Singapore in almost two months.· Group II cargo with close to 6,000t of light and heavy grades loads from Taiwan in recent days.· Cargo is second to load from Taiwan in a week; the first cargo moved to China.· Pick-up in cargo flows coincides with expected restart of Taiwan’s Group II base oils unit after two-month shutdown for maintenance.· Large cargo loads from South Korea in 1H Dec 2023, set to reach US West coast by end-Dec 2023.· Cargo adds to swathe of shipments from South Korea set to reach US in Dec 2023.· Large volume of cargoes from South Korea set to reach India in Dec 2023, adding to pick-up in flows to India in Oct and Nov 2023.· Cargo with combination of Group I/II base oils from Saudi Arabia set to reach India in coming week.· Two cargoes from Saudi Arabia scheduled to reach US Gulf coast in early Jan 2024.· Shipments add to signs of pick-up in cargo-loadings from Saudi Arabia in Dec 2023 vs previous month.· Large cargo of Group III base oils from UAE scheduled to reach US Gulf coast in early Jan 2024.· Cargo of Group III base oils from Bahrain scheduled to reach northwest Europe in coming days.· Cargo loads from US in past week before heading to northwest Europe, set to arrive in early Jan 2024.· Cargo of Group II base oils from US set to reach South Africa in coming days.· Cargo of Group II base oils from US reaches India in recent days..Global base oils - week of Dec 18: Demand outlook.Global base oils - week of Dec 18: Price outlook - arbitrage.Global base oils - week of Dec 18 Price outlook - margins
· Singapore takes delivery of almost no cargoes last week amid ongoing pause in shipments from Japan, slowdown in shipments from China.· Large cargo from Italy scheduled to reach Singapore in coming week.· Shipment would be first from Europe to Singapore in almost two months.· Group II cargo with close to 6,000t of light and heavy grades loads from Taiwan in recent days.· Cargo is second to load from Taiwan in a week; the first cargo moved to China.· Pick-up in cargo flows coincides with expected restart of Taiwan’s Group II base oils unit after two-month shutdown for maintenance.· Large cargo loads from South Korea in 1H Dec 2023, set to reach US West coast by end-Dec 2023.· Cargo adds to swathe of shipments from South Korea set to reach US in Dec 2023.· Large volume of cargoes from South Korea set to reach India in Dec 2023, adding to pick-up in flows to India in Oct and Nov 2023.· Cargo with combination of Group I/II base oils from Saudi Arabia set to reach India in coming week.· Two cargoes from Saudi Arabia scheduled to reach US Gulf coast in early Jan 2024.· Shipments add to signs of pick-up in cargo-loadings from Saudi Arabia in Dec 2023 vs previous month.· Large cargo of Group III base oils from UAE scheduled to reach US Gulf coast in early Jan 2024.· Cargo of Group III base oils from Bahrain scheduled to reach northwest Europe in coming days.· Cargo loads from US in past week before heading to northwest Europe, set to arrive in early Jan 2024.· Cargo of Group II base oils from US set to reach South Africa in coming days.· Cargo of Group II base oils from US reaches India in recent days..Global base oils - week of Dec 18: Demand outlook.Global base oils - week of Dec 18: Price outlook - arbitrage.Global base oils - week of Dec 18 Price outlook - margins
