Bitumen / Asphalt
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Asphalt and bitumen prices are shaped by more than just local supply and demand. Movements in wider market fundamentals all play a role. To interpret these drivers and anticipate developments, you need comprehensive context.
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Latest bitumen / asphalt news
Browse the latest market moving news on the global bitumen and asphalt industry.
Mediterranean bitumen trade opens to Asia-Pacific
Mediterranean bitumen trade opens to Asia-Pacific
Singapore, 8 July (Argus) — A large bitumen cargo is heading from the Mediterranean to Asia-Pacific with economics for the trade now viable, and regional traders say more could follow. The 30,100 dwt Blacksmith , operated by trading firm Trafigura, loaded a 28,600t cargo from Aliaga (Izmir), Turkey on 17 June and is scheduled to arrive at Tanjung Langsat, Malaysia, around 10 July, according to vessel tracking data. Trafigura has storage at Tanjung Langsat, near Singapore. Importers in Asia-Pacific said the Europe-Asia arbitrage is only feasible for the largest tankers and cargo sizes. Recent oil price volatility could make the trade risky, according to traders, but there is no sign yet of the price spread between Singapore and the Mediterranean closing. Some traders expect further cargoes to make the route. Singapore prices were $184/t above those of the Argus Mediterranean bitumen index on a fob basis on 3 July. The spread was around $10/t in favour of Singapore at the start of June. Singapore prices continued to rise slightly this week, supported by higher bids and buying indications along with continued tight supply. The daily fob Singapore ABX 1 assessment hit $610/t on 8 July. Trafigura bid for a 4,000t cargo loading 23-27 July at $615/t fob Singapore on 8 July, including demurrage, on the Argus Open Markets (AOM) platform, but attracted no selling interest. The bid stipulated SRC and ExxonMobil supply only, and is understood to be part of a requirement to meet supply to Australia. Longer lead times for shipping cargoes from Europe to Asia-Pacific have kept traders concerned that Asian prices could fall by the time the cargo arrives at its destination. But Singapore supply is tight, which has supported export prices. July-loading supply is no longer widely available, and August-loading supply remains tight. At least one refiner has reported bitumen output disruptions because of feedstock issues. Crude slates suitable for bitumen production may take longer to reach Singapore, keeping supplies limited for now, market participants said. Most have refrained from fresh offers. Mediterranean bitumen supply has also been tight in recent weeks, particularly from Greece, as refiners grapple with the continued loss of much Mideast Gulf crude supply that is good for bitumen production. Greek refiner Motor Oil Hellas (MOH) has switched to lighter crudes and produced more jet fuel and diesel and less heavy products like bitumen. Mediterranean bitumen prices have been pulled lower by a fall in high-sulphur fuel oil (HSFO) values since early June, even with some firming of the differentials to HSFO at which bitumen cargoes trade. Singapore cargoes trade at outright values and historically have been more disconnected from HSFO moves. By Chloe Choo and Jonathan Weston Mediterranean v Singapore bitumen $/t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Refinery issues lift French bitumen prices to 4-yr high
Refinery issues lift French bitumen prices to 4-yr high
London, 12 June (Argus) — Domestic bitumen truck prices in France are at their highest levels since 2022, as refinery outages and production issues tighten supply and keep the market elevated. Argus assessments in north and central France were around €617.50/t delivered last week, the highest since June 2022, when prices reached a peak of €670/t following Russia's invasion of Ukraine. Prices in southern France were assessed at €592.50/t, up by €30/t on the week. The gains reflect stronger high-sulphur fuel oil (HSFO) values in May compared with April. A significant share of domestic truck pricing in France is formula-linked to HSFO benchmarks — in the north and centre to fob Rotterdam barge values, and in the south to fob Mediterranean cargoes. Some traders this week pointed to spot prices moving as high as €630/t delivered in northern France, despite softer crude and HSFO markets, highlighting ongoing tight supply. A full-scale maintenance shutdown at TotalEnergies' 219,000 b/d Donges refinery from 9 May to end-June has been followed by bitumen production and supply issues at the company's 246,900 b/d Gonfreville refinery and North Atlantic's 236,000 b/d Port Jerome facility, both in northern France. These have coincided with reduced bitumen output across northwest and central Europe, as refiners switch from heavier to lighter crudes because of disruption to flows through the strait of Hormuz and prioritise middle and light distillate yields. This has supported bitumen prices across Europe and the Mediterranean since the start of the US-Iran conflict in late February. Supply constraints have overlapped with seasonal demand as road paving activity increases across France and neighbouring markets. But suppliers warn high prices are starting to weigh on consumption, with June demand below typical levels for this time of year. TotalEnergies declared force majeure on bitumen supplies from Gonfreville on 29 May after "a major technical incident interrupted production at the facility". The firm said normal supply may resume by mid-June, "subject to favourable developments". But that timeline remains uncertain, with workers at Gonfreville telling Argus that the damaged unit at Gonfreville, an electrical substation transformer, will not return to service soon . Following the force majeure declaration at Gonfreville, North Atlantic issued a 3 June notice citing reduced supply from its Port Jerome refinery, attributing this to "several simultaneous incidents" linked to hot weather. French buyers have stepped up truck imports from the Benelux region, Germany and Spain, while cargo imports into domestic terminals have also helped counter supply shortages. Spanish refiner Repsol has supplied volumes via the Nantes bitumen import terminal near Donges. Market participants said Repsol's truck sales into France have increased sharply this month, with ex-works prices indicated at €615-630/t. By Navneet Vyasan and Keyvan Hedvat French price increase in June French bitumen prices Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Tupras wins OMV Galati bitumen tender
Tupras wins OMV Galati bitumen tender
London, 12 June (Argus) — Turkish refiner Tupras has been awarded a tender by Austria's OMV to supply one 5,000t cargo of bitumen per month from July to October into Romania's Galati terminal on the Danube, near the Black Sea, several trading and supply firms said. Both OMV and Tupras declined to comment on the award, including pricing. One market participant understands the tender was concluded at a $68/t premium to fob Mediterranean high-sulphur fuel oil (HSFO) cargoes, on a cif Galati basis. While the level has yet to be verified, a trader familiar with the tender said it reflects current market fundamentals. Others, however, said that when netted back to Agioi Theodoroi in Greece, the cif level would yield little or no premium to fob Mediterranean HSFO cargoes. Market participants more broadly understand Tupras will load its Galati-bound cargoes at the Motor Oil Hellas (MOH) refinery and export terminal at Agioi Theodoroi in Corinth. Tupras is understood to hold a term deal this year to load MOH bitumen cargoes. Traders estimated the total shipping cost to move a 5,000t cargo on a bitumen tanker from Agioi Theodoroi to Galati at $65-70/t. This includes transit via the Sulina canal connecting the Black Sea with Galati, as well as higher costs from additional war risk premiums (AWRP) linked to the Russia-Ukraine war. OMV, Azerbaijain's Socar and trading frim Vitol all operate bitumen storage at Romanian company Unicom's terminal in Galati. There is a lack of spot cargo availability from Mediterranean export points, particularly at Agioi Theodoroi, after MOH switched from heavy sour Middle East crudes, especially Basrah Medium and Heavy, to lighter and sweeter grades because of disruption to flows through the strait of Hormuz. Activity in the region remains disrupted. A Ukrainian drone exploded and caused an evacuation at the Constanta oil port on 5 June. Russia has stepped up attacks on Ukrainian ports, including a December 2025 blast that hit infrastructure at the Danube port of Izmail, which receives bitumen cargoes. Four deliveries of 2,500-3,000t have been made into Izmail in recent weeks from Romanian and east Mediterranean ports. The latest shipment, carried on board the 4,881 dwt My Worry , loaded at Constanta, discharged this week and is returning to Romania. By Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mideast bitumen heads to S.Africa after Iran war halt
Mideast bitumen heads to S.Africa after Iran war halt
London, 28 May (Argus) — Two bitumen tankers carrying Mideast Gulf cargoes of the product are heading to Durban, South Africa, the first such shipments since the flows were halted when the US war with Iran began on 28 February. The 6,649 deadweight tons (dwt) A3R H is scheduled to arrive at Durban on 30 May, while the 5,900dwt Y L W , which according to Vortexa was loaded at an Omani storage point, is due for 4 June arrival at the South African port. The tankers are understood by market participants to have been prevented by the US-Iran conflict and closure of the Hormuz strait from shipping their cargoes to international markets. The last Mideast Gulf cargo shipments to South Africa on the A3H R and Y L W arrived at Durban around 20 February and the start of March respectively. Bitumen cargoes loaded in the Mideast Gulf constituted close to one-fifth of South African bitumen cargo imports in both 2024 and 2025, competing strongly with eastern Mediterranean cargoes, especially Turkish volumes that accounted for just over half of South African imports last year, according to Kpler data. The data showed South Africa imported 234,000t of bitumen in bulk tanker cargoes last year, up from 220,000t in 2024, as the country's last remaining bitumen-producing refinery, the 107,000 b/d Sasol-Prax joint venture Natref facility in Sasolburg, discontinued output of the heavy construction product last autumn. South Africa has already imported 160,000t of bulk bitumen so far this year — 100,000t of it from Turkey — alongside packaged flows like drums and bitutainers. Some of that supply is ordinarily sourced from the Mideast Gulf, but has also been hit by war-related supply restrictions. By Keyvan Hedvat Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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