Singapore’s base oils exports showed signs of reverting to more typical levels over the past week following a slowdown in activity at the end of last year.The island-state’s base oils imports by contrast stayed unusually low.Base oils exports came to around 30,000t in the week to January 17, government data showed.The volume fell from more than 50,000t the previous week but remained well up from less than 10,000t in the first week of January. Exports to the key markets of China, Indonesia and India reverted to more typical levels over the last two weeks following a slowdown at end-2023.A resumption of more typical flows comes ahead of a likely rise in demand in China and India in a few weeks’ time, after the lunar new year holidays and before the end of the financial year in India at end-March.Singapore’s base oils imports held at less than 6,000t for a second week and at close to 40,000t over the last four weeks combined.The volume contrasts average imports of more than 62,000 t/month in the first eleven months of last year.The slowdown reflected a halt in shipments from Japan since November and a slump in supplies from China over the last two months.Both countries had been regular sources of supplies for Singapore.The drop in imports from those countries increased Singapore’s reliance on irregular shipments from markets like Europe..Spore’s exports rise in week to Jan 10.Spore’s exports fall in week to Jan 3.Spore’s exports fall in week to Dec 20.Base Oil News stories and analysis also available on ICIS platform
