Singapore’s Sept base oils exports fall

Singapore’s base oils export fell to a five-month low in September amid a sharp slowdown in shipments to China.

Total exports of 152,700t in September fell from a five-month high of close to 204,000t the previous month, government data showed.

The September volume was down slightly from typical exports of around 161,000 t/month over the past year.

Exports jumped in August partly because of a rebound in shipments to China to almost 48,000t, from less than 25,000t in July.  

The trend reversed in September, with shipments falling back to 18,800t. The volume was the lowest in more than six years.

The rise in August shipments preceded a seasonal pick-up in Chinese lube demand from the end of the third quarter.

The fall in September shipments suggested any such pick-up in demand was relatively muted.