Singapore exported more base oils to southeast Asia than South Korea did in the three months to end-September for a fourth straight quarter.The rise in shipments highlighted Singapore’s growing base oils exports to the region even before the start-up of a new Group II base oils unit in September.It also highlighted the growing pressure that supplies from South Korea could face in response to the rise in shipments from Singapore.The island-state’s exports of more than 237,000 tonnes to southeast Asia in the third quarter were the second-highest in at least five years, government data showed..The highest volume during that period was during the second quarter of the year.The rise in shipments coincided with a recovery in South Korea’s base oils exports to southeast Asia to more than 233,000 tonnes in the third quarter..The volume rose from less than 220,000 tonnes during the previous three months to the highest since the first quarter of 2023.Firm lube consumption in southeast Asia could cushion the impact of a rise in shipments from the region's two key suppliers.Any slowdown in consumption would conversely magnify the competition for market share.Southeast Asia’s lube consumption was steady in the first eight months of the year compared with the same period last year..Singapore exports to China extend rise in October.Singapore September base oils exports rise.ExxonMobil starts first-of-its-kind technology in Singapore
