Spore’s June base oils exports to SE Asia rise

Singapore’s base oils exports to southeast Asia rose in June to their highest in more than six years even as its total exports stayed relatively low.

Base oils exports of almost 79,000t to southeast Asia in June rose from an already-high 75,900t the previous month, government data showed.

The rise in shipments lifted total exports to the region to a record-high of almost 394,000t in first-half 2023, up from 382,500t during the same period last year.

The rise in exports lifted the share of Singapore’s base oils exports moving to southeast Asia to 39pc of the total in the first half of the year.

The share was up from 38pc during the same period last year and from 22pc during the same period in 2019, before the Covid-19 pandemic struck.

Exports rose this year mostly because of a sustained surge in shipments to Indonesia.

Exports of more than 187,000t to the country in first-half 2023 were up from close to 131,000t during the same period last year.