India's bitumen imports fell by 50pc on the year in the first half of 2026 as the US-Iran conflict and a US naval blockade in the region disrupted vessel logistics, leaving most vessels chartered by Indian market participants stranded inside the blockade.
Imports totalled 905,000t during January-June, down from 1.81mn t in the same period last year, according to the latest Indian customs data from Global Trade Tracker (GTT). Second-quarter imports were 271,356t, down by around 68pc from 857,419t a year earlier, the data show.
Exports from Iran, a key supplier of bitumen to India, fell because of the conflict and the de facto closure of the strait of Hormuz from March, while the US blockade in the Mideast Gulf added further pressure. Although some vessels crossed the blockade in April, import volumes stayed low as most vessel owners were unwilling to risk crossing on fears of US attacks. US forces attacked at least two bitumen tankers in June, saying that the ships had attempted to evade the blockade.
India is a net importer of bitumen and lacked alternate supply sources because of unviable seaborne values in Europe and Asia and tight supply in southeast Asia. But buyers with urgent requirements sought cargoes from south China, and around 5,000t were imported from south China in June, the data show. This was the second cargo from south China this year. A state-controlled refiner imported this cargo, purchased on a formula-linked price based on the Argus fob Mideast Gulf assessment, underscoring regional supply tightness.
Official import data for July and August has yet to be released, but imports are expected to remain subdued as renewed US-Iran tensions and a fresh US naval blockade since mid-July have left bitumen vessels stranded in the Mideast Gulf and many vessel owners are hesitant to load a cargo from Iran, Indian importers said.
July and August are typically the peak monsoon months in India. This year's monsoon has brought less rainfall than last year, but it has still affected imports and halted projects where thunderstorms occurred, particularly in the northeastern and southwestern states. India has received about 10pc less rainfall than average so far this monsoon season, which began on 1 June, with some western and southern states recording deficits of around 30pc, the meteorological service said. Conditions are likely to clear by mid-September, allowing previously delayed projects to resume.
