Thailand’s base oils output fell to a fourteen-month low in January because of shutdowns affecting both of the country’s base oils plants.The drop in output added to the tighter availability of Group I base oils supply in the Asia-Pacific market at the start of the year.The region’s Group I supply showed signs of staying tighter than usual over the following months amid a slump in availability from Japan and longer shipment times for cargoes from Europe to Asia.Asia’s Group I prices reflected the tighter supply, ICIS data showed.Group I heavy-neutrals prices maintained a premium to Group II prices in the first two months of the year.Ex-tank Singapore bright stock prices moved to an unusually steep premium to fob Europe export prices from the start of the year. The wide premium boosted the feasibility of arbitrage shipments from Europe.Thailand’s base oils output of 40,500 kilolitres (36,000t) in January fell from 47,100kl the previous month, government data showed.The fall in supply mostly reflected a drop in Thai Lube’s base oils output to close to 12,000kl. The volume fell from 19,200kl in December to the lowest since the beginning of 2017.Thailand’s firm domestic base oils demand curbed further the availability of supplies for overseas markets.Thai Lube’s sales of more than 5,100kl in the domestic market in January were the second highest in eighteen months. .Japan’s January base oils supply falls
Thailand’s base oils output fell to a fourteen-month low in January because of shutdowns affecting both of the country’s base oils plants.The drop in output added to the tighter availability of Group I base oils supply in the Asia-Pacific market at the start of the year.The region’s Group I supply showed signs of staying tighter than usual over the following months amid a slump in availability from Japan and longer shipment times for cargoes from Europe to Asia.Asia’s Group I prices reflected the tighter supply, ICIS data showed.Group I heavy-neutrals prices maintained a premium to Group II prices in the first two months of the year.Ex-tank Singapore bright stock prices moved to an unusually steep premium to fob Europe export prices from the start of the year. The wide premium boosted the feasibility of arbitrage shipments from Europe.Thailand’s base oils output of 40,500 kilolitres (36,000t) in January fell from 47,100kl the previous month, government data showed.The fall in supply mostly reflected a drop in Thai Lube’s base oils output to close to 12,000kl. The volume fell from 19,200kl in December to the lowest since the beginning of 2017.Thailand’s firm domestic base oils demand curbed further the availability of supplies for overseas markets.Thai Lube’s sales of more than 5,100kl in the domestic market in January were the second highest in eighteen months. .Japan’s January base oils supply falls