Chabahar Port is to be one of the exporting center in Iran

 bitumen in Chabahar Port

Chabahar port is to be one of  the exporting center in  Iran

Chabahar port as a developed port in Iran with having strategic position, which is near to international business ports, is going to be one of the exporting ports in Iran in the future”.Said Behrouz Aghaie, SISTAN &BLUCHESTAN ports &maritime organization of Iran. “We have invested about one billion dollars for developing Chabahar port and received many requests for investment in this port Since December 2018, so much that we have recorded 62%raise in performance growth and oil product loading”.he added. With having strategic position, Chabahar port is very good for exporting oil product specially bitumen. “Although Iran is the biggest Bitumen supplier and exporter in middle east and there are many requests for bitumen in the world, but only less than 20% of Asian bitumen and less than 10% of the global market belongs to Iran, so we hope to reduce bitumen price and make the market more competitive Due to Chabahar strategic position and its vicinity to international business ports”. Said Aghaie.

 

New Type of Bitumen on Global Standards that could change based on Traffic volume

Iranian researchers have achieved producing a new type of state-of-the-art bitumen based on the global standards whose quality can change based on traffic volume.

pasargad oil

 Pasargad Oil Company has achieved producing a new kind of bitumen associated with the latest global standards named (+PG), fits with road traffic volume.

“With having record of producing high quality bitumen proper to whether condition ,POC now has reached new way of producing bitumen based on road traffic volume “,according to RAHE DANA NEWS CHANNEL .

Categorizing bitumen based on “PG FUNCTION” has been started in Iran since four years ago and pasargad Oil Company is pioneer in producing this kind of bitumen.  PG based method bitumen  mostly satisfy the whether condition but in this new kind of bitumen based on new technology pasargad oil company has achieved ,bitumen is produced based on normal ,heavy and very heavy traffic volume .In “+PG “produced based bitumen by pasargad oil company which fulfills both whether condition and traffic volume, it could be said that Iran have achieved the latest standards of producing bitumen. As you know, on the reasons that affects the bitumen, life is the traffic volume and with new technology based bitumen, our expertise have succeed to increase bitumen life dramatically

WEEKLY REVIEW OF BITUMEN MARKET IN THE WORLD Date: April 30 2023

  • Last week 110,000 MT VB were supplied in IME, by 19% decrease 190,450MTdemand were registered. In prior week, the supply rate was declined by 27,000 MT clearly the whole amount was sold and statistically fluctuation trend was from -4% to 6.3%. Due to outputs from all refineries except Abadan, the amount of offers have decreased and Bandar Abbas refinery VB with 4% price reduction declined the most. Furthermore, VB close price and IME’s export bitumen ratio reached 85%, also VB’s average value in USD assessed at 350$.

     

    Supplies in IME’s export market were around 51,000 MT, although it was 17,000 MT more than the monthly average of prior month but totally, it demonstrates reduction in outputs. Declined offers volume from Isfahan and Bandar Abbas Jey Oil were the main reasons. For this amount of outputs, 29,470 MT demand were registered and as demand was lower than supply, 40% of offers were not traded. Considering the free market USD to IRR exchange rate, at published date, the bargained equivalent rate for Isfahan Jey Oil Bulk Bitumen was 325$, Bandar Abbas Jey Oil Bulk Bitumen was 343$ and Abadan Pasargad Oil Bulk Bitumen was 322$. In addition, no trades were registered for Pars Behin Qeshm Oil. Apparently, demand lackluster was due to high bitumen base prices and it worth mentioning that all trades were done only on base prices.

     

  • Pasargad Oil Company has announced in its latest notice that “In order to increase outputs and to store 20,000 MT bitumen, facilitate the transfer and loading operation and resumption of outputs, bunkers construction project that was started since 2020-21 which, consists of 4 bunkers with 5,000 MT capacity each worth 122 billion IRR has come into operation phase.”

  • According to latest report published by the Central Bank “Point-to- point equity growth in Iran since Jan. 23 was 32% and this amount was 38% in prior year. However, monetary base increase was 39% which demonstrates soar in comparison to 33% in prior year.

 

 

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Bitumen report in May 2019

Bitumen report

 

Bitumen is widely used as a binding organic material, made from the by-products of refined crude oil. Bitumen is used in road construction, as it is easy to produce, reusable, non-toxic, and a strong binder.

 

  • Increasing road construction ( asphalt ) and repair activities and demand from commercial and domestic building constructions are augmenting the growth of the market studied.
  • Increasing environmental concerns are likely to hinder the market’s growth.
  • Robust growth in construction activities in the Asia-Pacific region is projected to act as an opportunity for the market in future.

 

The Asia pacific bitumen market

 Bitumen trading in Asia Pacific has been reported in stable situation and there hasn't been  seen any fluctuation or dealing . Regarding to remarkable raise in heavy oil sour price, Singapore is expected to  maintain its  rate of bitumen output . Thailand has the same situation as Singapore  And it's not going to increase its rate of output . 

 On the other hand Indonesia , Malaysia and Vietnam are to be expected to raise their buying bitumen volume on midst of June  after Muslims holiday which is known as 'Eid al-fitr . China has declined its import rate after yuan value has been fallen dramatically. Although dramatic  raise in heavy oil sour price , Malaysia as the only country in Asia pacific  is planned  to increase its production rate .

Recently there has been held a tender in Indonesia on which this country bought 10000 MT BITUMEN FOB Singapore for 420 USD to be delivered on June and we are going to see increasing demand   for Bitumen inquiry on both bulk bitumen and drum bitumen for this country .  In India because the bitumen price  has been declined up to 15 $ in the domestic bitumen market .  Myanmar as well as Bangladesh have been increased their buying bitumen inquiry from Iran and expected to be increased more in the futur

 

The middle east bitumen market  

 

In middle east the bitumen market has been stable  . Iran Bitumen prices dropped because for USD Exchange rate

 

C I S bitumen market

 

The C I S bitumen market which is include Russia , Ukraine and Azerbaijan we are expected to see increasing demand for bitumen inquiry

 

Africa bitumen market

 

On Africa  due to rain , bitumen consumption has been declined , on the other hand ,the fund which has been allocated on east , west and north has been increased dramatically and the construction on Africa is progressing in a good way . Due to decrease on production rate for refineries , south Africa has held a tender for bitumen .   Bitumen refinery try to find a way to sell their cargo to African market like total oil company in Europe

 

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Bitumen prices last Updated: 10.02.2023

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