Indonesia’s base oils imports recovered in May on the back of a rebound in shipments from Singapore.The rise in supplies from the city-state cushioned the impact of a sustained drop in shipments from South Korea that began more than a year ago.The higher shipments from Singapore also covered a growing share of Indonesia’s steadily-rising import requirements at a time when China’s demand for overseas base oils supplies has waned.India’s base oils imports are also likely to ebb once a wave of new production capacity in the country begins operations.Shrinking requirements in those key markets boosted the importance of outlets in southeast Asia like Indonesia, Vietnam and Thailand.Besides Indonesia, Singapore’s share of Thailand’s base oils imports also rose so far this year compared with last year, while South Korea’s share shrunk.South Korea’s share of Vietnam’s imports by contrast rose so far this year. Its share of Australia’s base oils imports has also grown.Singapore’s rising share of base oils supplies in key markets like Indonesia provided the island-state with more outlets for an expected increase in its own production capacity in the coming year.Indonesia’s base oils imports of 47,500 tonnes in May rose from less than 32,500 tonnes the previous month, government data showed.Imports fell by 7% from year-earlier levels because of a 39% fall in shipments from South Korea.Imports of close to 37,000 tonnes from Singapore by contrast rose for the twelfth time in thirteen months from year-earlier levels to a four-month high..Singapore’s May base oils exports rise.S Korea’s May base oils exports rise
