Singapore’s base oils imports climbed in October to the highest in more than two years amid a simultaneous rise in shipments from Europe and the Middle East, as well as from the Asia-Pacific region.Total imports of 83,400 tonnes in October rose from 61,400 tonnes the previous month to the highest since March 2022, government data showed.The shipments included a swathe of supplies from sources that typically mostly move Group I base oils to Singapore.Imports from markets like Italy, Saudi Arabia, Thailand and Japan rose in October to a one-year high of more than 30,000 tonnes, from less than 24,000 tonnes in July and August.The volume still fell by 15% and for the eleventh time in twelve months from year-earlier levels.The fall in shipments from year-earlier levels reflected the impact of the closure of several Group I plants in the Asia-Pacific region in the past two years.The subsequent drop in supply triggered a rise in demand for Group I base oils from refiners in southeast Asia as well as from sources in other regions.Singapore’s imports from Group I sources outside Asia, like Italy, Saudi Arabia and Russia, rose to more than 23,000 tonnes in October.The volume almost doubled from year-earlier levels to the highest since first-half 2021.The supplies accounted for a growing share of Singapore’s total Group I imports and highlighted the island-state’s ongoing requirements for the base oils grade.Singapore's ongoing demand for Group I base oils in turn also tightened supply of the grade in other markets like Europe.Singapore’s base oils exports of 167,000 tonnes in October edged down from 170,000 tonnes the previous month, with firm shipment volumes to southeast Asia balancing out lower exports to China and India..Singapore’s Sept base oils exports rise.S Korea’s October base oils exports rise.Taiwan’s October base oils exports rise
