South Korea’s base oils exports to Europe fell to a five-month low in June amid a slowdown in Group III and arbitrage shipments to the region.Total exports of 7,250t to Europe in June fell from 15,500t the previous month, government data showed.The volume was down from typical levels of more than 21,000 t/month over the past year.Exports to the Netherlands and Belgium combined fell to 3,820t in June, down from 14,000t the previous month. The two countries are the key destinations for Group III base oils shipments from South Korea.Exports to Turkey rose to 3,000t in June and to more than 16,000t in first-half 2023. The volume was up from little more than 4,000t during the same six-month period last year.The surge in shipments so far this year coincided with an open arbitrage to move Group II base oils from Asia to Europe. .S Korea’s June base oils exports fall
South Korea’s base oils exports to Europe fell to a five-month low in June amid a slowdown in Group III and arbitrage shipments to the region.Total exports of 7,250t to Europe in June fell from 15,500t the previous month, government data showed.The volume was down from typical levels of more than 21,000 t/month over the past year.Exports to the Netherlands and Belgium combined fell to 3,820t in June, down from 14,000t the previous month. The two countries are the key destinations for Group III base oils shipments from South Korea.Exports to Turkey rose to 3,000t in June and to more than 16,000t in first-half 2023. The volume was up from little more than 4,000t during the same six-month period last year.The surge in shipments so far this year coincided with an open arbitrage to move Group II base oils from Asia to Europe. .S Korea’s June base oils exports fall