Singapore’s base oils exports rose in the past week amid a sustained pick-up in shipments to China.The island-state’s imports by contrast stayed unusually low amid a slump in supplies from China and slowdown in shipments from the Mideast Gulf.The trend pointed to ongoing stock-building in China at least through the month of January.Singapore’s total base oils exports came to around 57,000t in the week to January 24, government data showed.The rise in shipments lifted total exports to more than 140,000t over the past three weeks combined.The volume was close to Singapore’s exports of 147,000t in all of December and raised the prospect of this month’s total exports reverting closer to typical levels of around 170,000 t/month in the first eleven months of last year.The pick-up in shipments mostly reflected an ongoing rebound in flows to China.Exports of more than 48,000t to the country over the last four weeks were the highest four-week volume since the first quarter of 2023.Singapore’s relatively steady monthly export volumes meant the pick-up in shipments to China accounted for a growing share of its supplies.The trend in turn cut the volumes available for shipment to southeast Asia.Singapore’s base oils imports came to less than 2,000t over the past week and to less than 11,000t over the past three weeks.The city-state’s imports already fell in December to a twenty-three month low of less than 40,000t.This month’s volumes showed signs of lagging even that low volume unless imports rise sharply over the coming days.The fall in shipments exacerbated the southeast Asia market’s tight supply of Group I base oils..Spore’s exports fall in week to Jan 17.Spore’s exports rise in week to Jan 10.Spore’s exports fall in week to Jan 3
Singapore’s base oils exports rose in the past week amid a sustained pick-up in shipments to China.The island-state’s imports by contrast stayed unusually low amid a slump in supplies from China and slowdown in shipments from the Mideast Gulf.The trend pointed to ongoing stock-building in China at least through the month of January.Singapore’s total base oils exports came to around 57,000t in the week to January 24, government data showed.The rise in shipments lifted total exports to more than 140,000t over the past three weeks combined.The volume was close to Singapore’s exports of 147,000t in all of December and raised the prospect of this month’s total exports reverting closer to typical levels of around 170,000 t/month in the first eleven months of last year.The pick-up in shipments mostly reflected an ongoing rebound in flows to China.Exports of more than 48,000t to the country over the last four weeks were the highest four-week volume since the first quarter of 2023.Singapore’s relatively steady monthly export volumes meant the pick-up in shipments to China accounted for a growing share of its supplies.The trend in turn cut the volumes available for shipment to southeast Asia.Singapore’s base oils imports came to less than 2,000t over the past week and to less than 11,000t over the past three weeks.The city-state’s imports already fell in December to a twenty-three month low of less than 40,000t.This month’s volumes showed signs of lagging even that low volume unless imports rise sharply over the coming days.The fall in shipments exacerbated the southeast Asia market’s tight supply of Group I base oils..Spore’s exports fall in week to Jan 17.Spore’s exports rise in week to Jan 10.Spore’s exports fall in week to Jan 3
