Singapore’s July base oils exports fall

Singapore’s base oils exports held in a narrow range in July even as they fell to a three-month low.

The steady volumes held at much lower levels than before 2020, when the Covid-19 pandemic struck.

Exports of 153,100t in July fell from 174,710t the previous month, government data showed. The volume fell by 10pc and for the third time in four months from year-earlier levels.

Total base oils exports of 1.16mn t in the first seven months of the year were almost the same as during the same period last year.

The volumes were still down from 1.28mn t during the same period in 2020 and from 1.93mn t during the first seven months of 2019.

Singapore’s lower base oils exports in July coincided with a slump in shipments from South Korea.