Indonesia’s base oils imports held firm in June on the back of a sustained wave of shipments from Singapore.The surge in supplies from Singapore further boosted the island-state’s share of Indonesia’s base oils imports, while South Korea’s share continued to shrink.Indonesia’s total imports of 45,600 tonnes in June edged down from 47,500 tonnes the previous month but rose 11% and for the third month in four from year-earlier levels, government data showed.Imports from Singapore accounted for 75% of the total in June and 73% in the first half of the year.The share was up from a 70% share in 2023 and 56% share in 2022.The trend added to a similar, even if smaller, rise in Singapore’s share of Thailand and Pakistan’s base oils imports this year.The trend highlighted the importance for refiners in Singapore and South Korea to boost market share in regional outlets with no Group II production capacity ahead of a sharp rise in Asia’s base oils production capacity over the coming year.Indonesia is home to a Group I base oils unit and a Group III base oils plant. It is reliant on imports for all of its Group II supplies.Singapore’s share of Indonesia’s base oils imports rose at the expense of shipments from South Korea.The northeast Asian country accounted for 7% of Indonesia’s imports in June and 17% in the first half of the year.The share was down from 18% in 2023 and 29% in 2022.But South Korea boosted its share of Vietnam's base oils imports in the first half of this year to levels that now exceeded the share of supplies from Singapore for the first time in at least four years.Its share of Australia’s base oils imports also rose in the first half of the year..Thailand’s June output falls, imports rise.Pakistan’s June base oils supply stays higher
