Most of Indonesia’s Group I base oil exports moved to southeast Asia in March, reflecting that region’s persistently strong demand for the lubricant feedstock.Some 55pc of the country’s Group I base oil exports moved to southeast Asian markets in March, government data showed. The share was up from average levels of around 42pc during the previous six months. Total Group I exports of 11,890t in March were the highest in a year..Exports to Singapore rebounded in March to a nine-month high of more than 3,200t. Shipments of more than 1,200t to Vietnam were the highest in more than three years.There was also a larger-than-usual flow of supplies to markets like Malaysia, Philippines, and Thailand.The firm buying interest in southeast Asia contrasted with still-cautious demand in China.Demand in that market typically peaks around March and April each year as buyers seek to build stocks ahead of the spring oil-change season. There is also typically strong demand for bright stock from southeast Asian sources like Indonesia.But repeated lockdowns in China in recent months have slashed demand and disrupted that pattern.Exports of 1,050t to China in March edged up from 880t the previous month. But the volume was lower than usual and contrasted with combined exports of more than 8,000t to China in February and March 2021..Indonesia’s Grp I base oil exports rise
Most of Indonesia’s Group I base oil exports moved to southeast Asia in March, reflecting that region’s persistently strong demand for the lubricant feedstock.Some 55pc of the country’s Group I base oil exports moved to southeast Asian markets in March, government data showed. The share was up from average levels of around 42pc during the previous six months. Total Group I exports of 11,890t in March were the highest in a year..Exports to Singapore rebounded in March to a nine-month high of more than 3,200t. Shipments of more than 1,200t to Vietnam were the highest in more than three years.There was also a larger-than-usual flow of supplies to markets like Malaysia, Philippines, and Thailand.The firm buying interest in southeast Asia contrasted with still-cautious demand in China.Demand in that market typically peaks around March and April each year as buyers seek to build stocks ahead of the spring oil-change season. There is also typically strong demand for bright stock from southeast Asian sources like Indonesia.But repeated lockdowns in China in recent months have slashed demand and disrupted that pattern.Exports of 1,050t to China in March edged up from 880t the previous month. But the volume was lower than usual and contrasted with combined exports of more than 8,000t to China in February and March 2021..Indonesia’s Grp I base oil exports rise
