Bitumen / Asphalt
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Latest bitumen / asphalt news
Browse the latest market moving news on the global bitumen and asphalt industry.
Railroads blast UP-Norfolk Southern merger plan
Railroads blast UP-Norfolk Southern merger plan
Houston, 13 May (Argus) — Union Pacific (UP) and Norfolk Southern's four Class I competitors urged US federal regulators to once again reject as incomplete the merger proposal to create the first US transcontinental railroad company. UP and Norfolk Southern in December filed their original merger application with US rail regulator the Surface Transportation Board (STB), starting the clock on a multi-year process. It will be the largest merger the STB has ever scrutinized, and the process will likely feature high-profile hearings and congressional scrutiny. The three-member STB in January ruled that the would-be partners' merger application was incomplete, sending it back to UP and Norfolk Southern to fill in key informational gaps. The railroads on 30 April refiled their proposal, which they say reinforces their argument the merger would drive growth, save shipping costs and bolster the US supply chain. UP said its updated analysis shows the merger will shift freight shipments from the roads to the rails, saving shippers an estimated $3.5bn/yr and removing about 2.1mn trucks from the road. However, all of the remaining Class I competitors heaped criticism on the merger application. According to BNSF Railway, UP's western Class I competitor, "the amended merger application makes things worse, not better." The refiled application "largely repackages" the first version while offering only "cosmetic changes to gloss over the serious and fundamental competition, pricing, and service concerns that were previously raised", BNSF said in an 8 May filing with the STB. In its updated analysis, UP said the combined railroad will hold a 39pc market share of US rail freight market, which the railroad says would put it roughly on par with BNSF by certain metrics. BNSF said that UP's actual market share would be considerably higher, a fact that it has downplayed in its application. "UP continues to lowball its projected market shares to the board but signals to Wall Street — the engine behind this proposed merger — that the market shares and pricing power will be even higher," BNSF said, urging the STB to reject the application again as incomplete. Canadian Class I railroads Canadian Pacific Kansas City and Canadian National both filed separate comments urging the STB to reject the application as incomplete, as did eastern US Class I railroad CSX. In response to the filings, UP on 12 May said its updated application "is comprehensive and complete, and provides all the information" that the STB needs, including market share data. The merger would create a single rail network stretching about 55,000 miles, handling about half of US freight traffic. UP and Norfolk Southern say that a coast-to-coast network will speed transit times by 24 to 48 hours and lead to greater efficiency. The two companies expect the transaction to be completed in the first half of 2027. The UP-Norfolk Southern merger will be the first test of STB rules enacted in 2001 requiring Class I railroads to demonstrate that major mergers enhance, rather than merely preserve, competitive shipping options. By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
UK bitumen imports increase in 1Q
UK bitumen imports increase in 1Q
London, 6 May (Argus) — UK bitumen imports increased year-on-year to 225,000t in the first quarter from 191,000t, Kpler data show. This rise came despite a spike in bitumen and crude oil values after the US-Iran war started on 28 February. Market participants attribute this to term supply deals struck at a fixed price by regional players before February, which offset the impact of rising crude prices. UK domestic bitumen prices, which were assessed by Argus at £345/t ($470/t) delivered on 27 February, increased to £535/t delivered by the end of April. But this increase was less than other key European markets including Germany, France and Italy, where price spikes were much sharper. The UK bitumen market is heavily reliant on imports. The country has just one bitumen-producing refinery — the 24,000 b/d Shell-Nynas joint venture at Eastham in northwest England. Last year, the country's bitumen throughput fell to to 322,000t, its lowest since 1995. After the start of the Iran war, regional market participants expressed concerns over tightened crude supply into key bitumen producing refineries that supply the UK. But flows from Shell's 404,000 b/d Pernis refinery — the UK's primary source of bitumen — remained strong in March and April. Pernis exported 59,000t in March to the UK and 57,000t in April, Kpler data show, significantly up from 16,000t and 8,000t in March and April last year. UK bitumen buyers have also reduced their reliance on north German refineries this year. The Brunsbuettel refinery only returned to full capacity in March after being hit by a fire in October. German first quarter exports to the UK more than halved from 26,000t to 11,000t, according to Kpler data. The tighter supply could change in the coming weeks. Venezuelan crude was recently unloaded in Nynas' 13,900 b/d Gothenburg refinery, although this could not be confirmed. The plant also imported roughly 60,000t of Venezuelan high-sulphur fuel oil (HSFO) on 25 April aboard the 112,119dwt Seacalm, the first such supply since 2019. The 6,712dwt Bitpower loaded a bitumen cargo in Gothenburg on 4 May, for delivery into a terminal in Dundee, UK, for 7 May. By Navneet Vyasan UK imports.pdf k t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asphalt tank fails in South Houston
Asphalt tank fails in South Houston
Houston, 29 April (Argus) — An asphalt tank ruptured on Wednesday afternoon at a Martin Asphalt facility in the city of South Houston, Texas, resulting in one fatality. Video from the scene by a local television news station showed a partially collapsed tank and liquid asphalt flooding a large part of the facility as well as flowing out of the grounds and over a nearby road. The Houston Fire Department's Public Information Office confirmed the rupture resulted in a fatality. The Harris County Fire Marshal's Office reported the incident and noted the possible fatality at 4:36pm via a post on X. The South Houston Fire Department as well as Houston Fire Department hazmat and rescue units responded to the scene. Martin Asphalt did not immediately respond to a request for comment. The company produces asphalt for paving and roofing applications, along with numerous specialty asphalt blends. By Angelina Contreras Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
N African bitumen buyers look west for supply
N African bitumen buyers look west for supply
London, 29 April (Argus) — North African bitumen buyers swung away from Greek supply and instead bought more Spanish and Italian product, which was often cheaper and more plentiful, particularly in the first quarter of this year. North African imports of Greek bitumen totalled 65,000t in the first quarter, compared with 164,000t in the same period of 2025, Kpler data shows. Imports from Greece also fell significantly in the fourth quarter of 2025, with the western Mediterranean becoming the primary import option for north African contractors. After the US-Israeli strikes on Iran on 28 February and following the blockade of the strait of Hormuz, market participants in Algeria and Morocco anticipated significantly tightened supply out of Greece. Exports out of Greek refineries, particularly Motor Oil Hellas' (MOH) 180,000 b/d Agioi Theodoroi plant, remain short in supply with feedstock crude cargoes held up in the strait of Hormuz. The refinery regularly imports bitumen-rich crude such as Iraqi Basrah. Meanwhile, exports from Helleniq Energy's 140,000 b/d Aspropyrgos refinery have been less appealing to north African buyer. Any shift to Aspropyrgos is difficult after prolonged maintenance cut production. The work, originally planned for February-March, is now scheduled to end in early May. In addition to this, contractors in Algeria and Morocco were already sitting on surplus stocks accumulated over the fourth quarter of 2025. This allowed them to back off from new, more expensive deals out of the eastern Mediterranean after the Iran war sent high-sulphur fuel oil (HSFO) and crude prices soaring. Both Spanish Repsol-Asesa joint owned 180,000 b/d Tarragona and Italian Sonatrach-owned 198,000 b/d Augusta refineries were able to offer cargoes at lower values. In the first quarter, Spanish and Italian exports to north Africa totalled 31,000t and 122,000t, respectively. Algeria, which had not imported Spanish cargoes since 2023, briefly resumed such imports owing to weaker cargo values offered. Spain's Repsol was largely immune to price spikes as surplus cargo availability and tepid domestic demand allowed them to offer cargoes at a discount of $15-20/t to fob Mediterranean HSFO values in March, compared to closer to flat to HSFO for other Mediterranean suppliers. Looking ahead, Algerian and Moroccan bitumen demand is expected to increase in the coming weeks. Some of this demand will continue to be met by western Mediterranean refiners. Turkey's Dortyol, is now offering greater volumes after flows of product originating in Iraqi Kurdistan resumed in December. By Navneet Vyasan North African bitumen imports Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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