Japan’s base oils exports extended their fall for a sixth month in June amid a sharp slowdown in shipments to southeast Asian outlets like Thailand and Malaysia.Exports to Singapore fell less sharply, but still outpaced the drop in shipments to South Korea.Total base oils exports of 73,420 kilolitres (65,040t) in June fell by 19pc from year-earlier levels, government data showed.The slowdown cut total shipments to 443,370kl in the first half of the year, down 19pc from 545,980kl during the same period last year.The volume was the second lowest in a decade. The lowest had been in first-half 2020, when lockdowns slashed global economic activity.The lower exports coincided with a heavier round of plant maintenance in Japan in first-half 2023 than during the same period last year.The slowdown in shipments also followed the closure of a Group I base oils plant in Japan in second-half 2022.Another Group I plant is set to be closed in the coming months.Exports to Singapore fell by 13pc in June and for a third straight month from a year earlier.The slowdown lagged the 22pc fall in shipments to southeast Asia and an almost complete halt in exports to Hong Kong during the second quarter of the year..Japan’s June base oils output stays lower
Japan’s base oils exports extended their fall for a sixth month in June amid a sharp slowdown in shipments to southeast Asian outlets like Thailand and Malaysia.Exports to Singapore fell less sharply, but still outpaced the drop in shipments to South Korea.Total base oils exports of 73,420 kilolitres (65,040t) in June fell by 19pc from year-earlier levels, government data showed.The slowdown cut total shipments to 443,370kl in the first half of the year, down 19pc from 545,980kl during the same period last year.The volume was the second lowest in a decade. The lowest had been in first-half 2020, when lockdowns slashed global economic activity.The lower exports coincided with a heavier round of plant maintenance in Japan in first-half 2023 than during the same period last year.The slowdown in shipments also followed the closure of a Group I base oils plant in Japan in second-half 2022.Another Group I plant is set to be closed in the coming months.Exports to Singapore fell by 13pc in June and for a third straight month from a year earlier.The slowdown lagged the 22pc fall in shipments to southeast Asia and an almost complete halt in exports to Hong Kong during the second quarter of the year..Japan’s June base oils output stays lower