Taiwan’s base oils exports stayed lower than usual in December even as they rebounded from the previous month.The more muted pick-up in shipments coincided with signs of a slowdown in shipments from Singapore in December.The trend curbed the size of any build-up of surplus supplies in the Asia-Pacific region at end-2023, when demand faced a seasonal slowdown.Supply faced the prospect of rising more strongly in January amid signs of a strong pick-up in export volumes from Taiwan so far this month.Taiwan’s base oils exports of 18,900t in December rose from less than 9,500t in each of the previous two months, government data showed.The volume was still down from typical levels of around 40,000 t/month in the first nine months of the year.Exports fell in the fourth quarter of the year because of the shutdown of Taiwan’s Group II base oils unit in October for scheduled maintenance work.The unit resumed operations in first-half December.The shutdown was the key factor behind a fall in Taiwan’s base oils exports to 396,000t in 2023, down from more than 470,000t the previous year.Taiwan’s base oils exports to China rose to more than 8,400t in December.The volume rose from less than 3,000t in October and November combined and helped domestic distributors in that market to replenish depleted stocks.The pick-up in Taiwan’s exports to China showed signs of rising even more sharply in January..S Korea's Dec base oils exports rise.Asia base oils - week of Jan 15: Supply outlook
Taiwan’s base oils exports stayed lower than usual in December even as they rebounded from the previous month.The more muted pick-up in shipments coincided with signs of a slowdown in shipments from Singapore in December.The trend curbed the size of any build-up of surplus supplies in the Asia-Pacific region at end-2023, when demand faced a seasonal slowdown.Supply faced the prospect of rising more strongly in January amid signs of a strong pick-up in export volumes from Taiwan so far this month.Taiwan’s base oils exports of 18,900t in December rose from less than 9,500t in each of the previous two months, government data showed.The volume was still down from typical levels of around 40,000 t/month in the first nine months of the year.Exports fell in the fourth quarter of the year because of the shutdown of Taiwan’s Group II base oils unit in October for scheduled maintenance work.The unit resumed operations in first-half December.The shutdown was the key factor behind a fall in Taiwan’s base oils exports to 396,000t in 2023, down from more than 470,000t the previous year.Taiwan’s base oils exports to China rose to more than 8,400t in December.The volume rose from less than 3,000t in October and November combined and helped domestic distributors in that market to replenish depleted stocks.The pick-up in Taiwan’s exports to China showed signs of rising even more sharply in January..S Korea's Dec base oils exports rise.Asia base oils - week of Jan 15: Supply outlook