Spore’s July exports to SE Asia stay high

Singapore’s base oils exports to southeast Asia held at multi-year highs in July as shipments to Indonesia rose to their highest in more than six years.

Total base oils exports of 77,610t to southeast Asia in July edged down from close to 79,000t the previous month, government data showed.

The volume was still the second-highest since at least 2017.

Shipments to the region stayed unusually high even as Singapore’s total exports fell to a three-month low in July.

Exports to Indonesia extended their strong rise, with shipments of more than 43,000t in July.

The volume exceeded Singapore’s exports to China for a second month and by the largest amount on record.

Excluding Indonesia, exports to other countries in southeast Asia fell back to a three-month low of 34,200t.