Thailand's base oil imports fell after a brief recovery in March, according to GTT data, on the back of reduced intake from South Korea.
- Imports were 18pc below the five-year monthly average of 32,100 kilolitres (28,300t), although they were more comparable to the 12-month average of 28,500 kl.
- Thailand mainly sought supplies of Group II and III base oils, with shipments from South Korea and Qatar making up 54pc of the total. South Korea and Qatar predominantly export premium-grade base oils, while Thailand produces Group I grades.
- South Korean cargoes fell as its supplies tightened on the back of a Group III plant shutdown from mid-March to late April.
- Supplies from Singapore also edged down, as they were diverted to India that maintained firm finished lubricants demand.
| Thailand base oil imports (kl) | |||||
| Apr '24 | Mar '24 | Mar '23 | m-o-m ± % | y-o-y ± % | |
| South Korea | 11,397 | 17,611 | 18,091 | -35.3 | -37.0 |
| Singapore | 9,461 | 11,604 | 9,350 | -18.5 | 1.2 |
| Qatar | 2,808 | 3,347 | 1,381 | -16.1 | 103.3 |
| Japan | 2,390 | 321 | 3,578 | 643.5 | -33.2 |
| Total | 26,427 | 33,660 | 33,077 | -21.5 | -20.1 |
| Source: GTT | |||||
| Total includes all countries, not just those listed | |||||
