Spore’s exports fall in week to Nov 1

Singapore’s base oils exports fell over the past week to the lowest in almost three months amid a sustained slowdown in shipments to India.

Base oils exports fell to less than 15,000t in the week to November 1, government data showed. Almost all the supplies moved to markets in southeast Asia.

The volume fell from more than 24,000t the previous week and cut total exports to less than 160,000t over the last four weeks.

The four-week volume was slightly higher than Singapore’s base oils exports of around 153,000t in September.

Exports fell amid a pause in shipments to China, following a surge in exports to the country during the previous three weeks.

Exports to India also paused. Shipments to the country had already slowed sharply during the previous three weeks.

The slowdown triggered a slump in exports to India in October compared with the previous month.

Singapore’s base oils imports rose over the past week to a three-month high.

Imports got a boost from the arrival of even more supplies from Italy and a steady flow of shipments from China.