Singapore January base oils exports fall on weak demand - traders

20 February 2013 03:33  [Source: ICIS news]

SINGAPORE (ICIS)--Singapore exported 20% less base oils in January at154,530 tonnes compared with December as most end-users still have enough stocks from last year, traders said on Wednesday.

The Netherlands took no base oils shipments from Singapore in January, in stark contrast with December, when it imported 51,349 tonnes.

But Singapore’s base oils exports to neighbouring southeast Asian countries surged 65% month on month to 71,070 tonnes amid a growing lubricants market in the region, a trader said. The volume accounted for 46% of the total in January, data from International Enterprise (IE) Singapore showed.

Indonesia took in 34,874 tonnes of the total, while Malaysia had a share of 15,807 tonnes. Vietnam imported 8,554 tonnes of base oils from Singapore, while Thailand and the Philippines imported 6,922 tonnes and 4,101 tonnes of base oils, respectively, from Singapore in January, official data showed.

By: Serena Seng

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