Spore’s exports rise in week to Oct 11

Singapore’s weekly base oils exports rose over the past week to the highest in almost two months amid a recovery in shipments to China.

Exports of more than 60,000t in the week to October 11 rose from less than 30,000t the previous week, government data showed.

The rise in shipments lifted total exports to more than 145,000t over the past four weeks.

The volume was still down from average four-week levels of more than 163,000t since the beginning of August.

Exports rose over the past week on a rebound in shipments to China.

A sharp slowdown in shipments to the country during the previous two weeks preceded then coincided with the country’s week-long public holiday at the beginning of October.

Exports of little more than 31,000t to China over the past four weeks were higher than typical levels of less than 27,000t since the start of the third quarter.

They were down from average levels of around 36,000t during the second quarter of the year.

The shipments exceeded four-week export volumes to Indonesia and to India for the first time since June.