Singapore’s base oils exports recovered in September as a pick-up in shipments to India and China outweighed a slowdown in flows to southeast Asia.The island-state’s imports got support from a pick-up in flows from Europe in September.Singapore’s total exports of 170,000 tonnes in September rose from less than 149,000 tonnes the previous month and by 11% from year-earlier levels, government data showed.The rise in shipments lifted total exports to a higher-than-usual 521,000 tonnes in the third quarter of the year.The volume was up from 491,500 tonnes during the previous three months, the highest since the beginning of 2023 and second highest since the first quarter of 2020.The rise in shipments helped to boost supplies in the Asia-Pacific region at a time when plant maintenance work in South Korea and Japan left surplus availability tighter than usual.The rise in exports in September included a pick-up in flows to India, which faced the prospect of a sharp slowdown in imports from South Korea at the start of the fourth quarter of the year.A drop in imports from India’s largest overseas supplier boosted the importance of other key sources like Singapore to help cover the shortfall.The less-than-8,000-tonne rise in exports from Singapore to India in September from August was likely to have little impact on that shortfall.Exports from Singapore to India showed signs of holding at similar levels in October.Singapore’s higher base oils exports in September contrasted with a dip in imports amid a slowdown in shipments from the Middle East.Imports of 61,400 tonnes in September still exceeded the 60,000-tonne/month level for only the third time in the past eleven months.The firmer volumes got support from a pick-up in shipments from Europe to a nine-month high. Imports from the US also remained unusually high.The rise in shipments from those markets was unusual and boosted their share of Singapore’s base oils imports to 32% of the total in the third quarter.The share was up from 13% in all of 2023..South Korea’s Sept base oils exports fall.Taiwan’s Sept base oils exports fall
Singapore’s base oils exports recovered in September as a pick-up in shipments to India and China outweighed a slowdown in flows to southeast Asia.The island-state’s imports got support from a pick-up in flows from Europe in September.Singapore’s total exports of 170,000 tonnes in September rose from less than 149,000 tonnes the previous month and by 11% from year-earlier levels, government data showed.The rise in shipments lifted total exports to a higher-than-usual 521,000 tonnes in the third quarter of the year.The volume was up from 491,500 tonnes during the previous three months, the highest since the beginning of 2023 and second highest since the first quarter of 2020.The rise in shipments helped to boost supplies in the Asia-Pacific region at a time when plant maintenance work in South Korea and Japan left surplus availability tighter than usual.The rise in exports in September included a pick-up in flows to India, which faced the prospect of a sharp slowdown in imports from South Korea at the start of the fourth quarter of the year.A drop in imports from India’s largest overseas supplier boosted the importance of other key sources like Singapore to help cover the shortfall.The less-than-8,000-tonne rise in exports from Singapore to India in September from August was likely to have little impact on that shortfall.Exports from Singapore to India showed signs of holding at similar levels in October.Singapore’s higher base oils exports in September contrasted with a dip in imports amid a slowdown in shipments from the Middle East.Imports of 61,400 tonnes in September still exceeded the 60,000-tonne/month level for only the third time in the past eleven months.The firmer volumes got support from a pick-up in shipments from Europe to a nine-month high. Imports from the US also remained unusually high.The rise in shipments from those markets was unusual and boosted their share of Singapore’s base oils imports to 32% of the total in the third quarter.The share was up from 13% in all of 2023..South Korea’s Sept base oils exports fall.Taiwan’s Sept base oils exports fall
