Singapore’s base oils imports fell to a three-month low in January amid a pause in shipments from the Netherlands.A pick-up in supplies from Japan cushioned the fall.Singapore’s base oils imports of just over 65,000t in January fell from a nine-month high of 77,730t in December, government data showed..Base oils imports got a boost late last year from the arrival of several large shipments from the Netherlands.The shipments removed surplus supply from a European market where demand was weak and prices under pressure..Spain's December lube demand slumps.They added to supply in Singapore, where regional demand was set to face a seasonal rise.Chinese demand this year was also likely to be stronger than predicted even just a few weeks earlier after China ended its zero-Covid policy in December.The expected rise in regional demand would coincide with scheduled plant maintenance work in Asia-Pacific, and in Singapore at the end of the first quarter of the year.The maintenance was set to cut its supply at the same time as demand rose.The shipments from the Netherlands helped to cover the shortfall.The January pause in shipments from the European country was temporary. Another large cargo from the Netherlands reached Singapore in February.A larger-than-usual cargo from Saudi Arabia was also scheduled to reach Singapore in early March.Imports from the Mideast Gulf country were typically close to 2,000 t/month over the past year..Saudi Arabia's Jan Yanbu/Jeddah exports fall.Singapore’s January imports got a further boost from a rise in shipments from Japan.Imports of more than 27,000t from the northeast Asian country almost doubled from December to a six-month high.The volume was the highest since the closure of a Group I plant in Japan at the end of the third quarter of last year.The plant closure raised expectations of a drop in base oils exports from Japan. Such a scenario is even more likely when another Group I plant in Japan closes later this year.Upcoming plant maintenance in Japan is likely to impact export volumes before then.There were already signs of a slowdown in shipments from Japan to Singapore in February..Japan’s Dec base oils exports improve
