Singapore exports nearly 2m tonnes base oils in 2009
18 January 2010 08:51 [Source: ICIS news]
SINGAPORE (ICIS news)--Singapore’s total base oils exports for 2009 were close to 2m tonnes, of which nearly half were shipped to China, according to the trade statistics released by the government on Monday.
Of the total exports, around 979,400 tonnes were sent to China – the biggest market for Singapore material, the statistics revealed.
The other large export destinations were Australia, India and Thailand, each accounting for around 132,000-146,000 tonnes for the year, according to the statistics.
The total imports into Singapore were around 485,000 tonnes, of which 159,000 tonnes came from Korea and 92,000 tonnes from Thailand, the statistics said.
The two base oils producers in Singapore are ExxonMobil and Shell.Much of the volume exported from Singapore went to captive downstream lubricant units of Shell and ExxonMobil in China and only a small percentage went to the merchant market, market sources based in Singapore said.
Besides Singapore, the other large export hub in Asia is South Korea.
The key base oils producers in South Korea include SK Energy, S-Oil and GS Caltex.
Base Oils are used for making automotive, industrial and marine lubricants.
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By: Anu Agarwal
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