Singapore’s base oils exports edged down in November even as shipments to China and southeast Asia rose.The island-state’s imports fell in November to a twenty-two month low.Total base oils exports of almost 166,000t in November fell from 168,000t the previous month, government data showed.The volume was close to typical levels of around 164,500 t/month over the past year.Lower exports in November contrasted with a rise in shipments to China to an eight-month high of 43,200t.The pick-up in shipments extended into December, even amid signs of rising domestic base oils output in China.The rise in supplies pointed to a pick-up in base oils demand either to replenish low stocks or to meet firmer lube demand.A lack of any sustained pick-up in China's lube consumption could trigger a subsequent slowdown in base oils demand as buyers first work down their inventories.Singapore’s base oils exports to southeast Asia rose to a three-month high of 71,200t in November.Exports to the region rose for a ninth month in ten. They lagged total shipments to China and India combined by less than 600t for a second month.They had previously exceeded shipments to China and India in the five months to September. Such an occurrence was rare before 2022.The trend highlighted the growing size and importance of the southeast Asian market as a key outlet for base oils, and Singapore’s advantageous location in tapping the market.Singapore’s base oils imports of around 45,500t in November fell from more than 63,000t in each of the previous three months to the lowest since early 2022.Imports fell because of a pause in shipments from Japan for the first time in more than six years.The cessation of shipments from Japan followed the permanent closure of a Group I base oils plant in the country in October.The closure and subsequent drop in shipments to Singapore left the island-state reliant on other sources to top up its Group I base oils requirements..Spore’s Oct base oils exports rise.Spore Oct base oil imports hold steady
