Spore weekly base oils imports stay low

Singapore’s base oils imports stayed low over the past week even with an unusual surge in supplies from Hong Kong.

Imports of less than 13,000t in the week to May 17 fell from more than 22,000t the previous week.

Almost 11,000t of the volume originated from Hong Kong.

Singapore’s imports from Hong Kong had totaled less than 2,000t in 2021 and 2022 combined.

Hong Kong has no base oils production capacity.

The large volume suggested that the supplies originated from other sources like China or Qatar.