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🛢️ Energy trading • Bitumen
Bitumen price: how the quotation is set and how to buy at the right time
FOB at the refinery, CIF landed at port, ex-depot price: E-Station decodes quotations, drum/bulk spreads and logistics costs to help you buy at the right time.
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From quotation to delivery
There is no such thing as the price of bitumen. There are prices: an FOB from a Gulf refinery, a CIF landed at Abidjan, an ex-depot rate in Europe. Between the two, the gap can exceed 200 dollars a tonne. This page explains how to read these quotations, what moves them, and how a professional buyer secures their price before signing.
This month’s barometer
Trend: → stable
Logistical tensions on the shipping routes to West Africa are lengthening rotations and pushing up freight, which weighs on the landed CIF. FOB from the Gulf remains broadly stable this month.
Section updated each month by our trading teams.
Why we don’t publish a price list online
A bitumen price displayed on a website is wrong by design: it depends on the grade, the packaging, the port of destination, the volume and the payment method, and it moves every week. The grids published on marketplaces are out of date or serve as bait. We quote firm, in writing, with a validity date.
Receive this month’s indicative price list by email
Grades 35/50, 50/70, 60/70 — FOB and CIF main destinations. State your destination country and your estimated volume, and we will send you the current indicative grid.
Receive this month’s price listWhat drives the price of bitumen
Bitumen is a residue of the distillation of crude oil. Its price therefore follows crude, but not mechanically. Four factors matter:
1. The price of crude and heavy fuel oil. Bitumen competes, within the refinery, with heavy fuel oil: when fuel oil sells well, refiners produce less bitumen, and its price rises. The reverse is also true. A buyer who follows Brent already has half the information.
2. Geography. A buyer in French-speaking Africa pays more for bitumen than a Turkish buyer, for an identical product. Sea freight, insurance and port charges make up a significant share of the delivered price. That is why comparing two offers requires bringing them to the same Incoterm: an FOB Bandar Abbas at $350 can cost more, delivered to destination, than a direct CIF at $480.
3. Packaging. Bulk (bitumen carrier or insulated tanker truck) is the cheapest per tonne but requires heated receiving facilities. Drums of 180 to 190 kg cost more — count the packaging and handling — but can be stored anywhere. One-tonne big bags sit between the two. The drum/bulk gap runs into tens of dollars per tonne.
4. Season and geopolitics. Demand surges during the construction season and contracts in winter. And the market remains exposed to shocks: the Strait of Hormuz crisis in 2026 sent prices soaring and halted entire projects, as we documented in our analysis of the Hormuz crisis. analysis of the Hormuz crisis.
The costs beginners forget
The product price is not the total cost. Add:
✓The freight and insurance through to the port of destination.
✓Independent quality and quantity inspection before loading (SGS type), essential on large volumes.
✓The bank charges for the letter of credit, the standard means of payment in international trade.
✓Customs duties and taxes in the destination country.
✓Final inland transport and, for bulk, keeping the product hot.
On a 2,000-tonne operation, these items shift the delivered price by several tens of dollars per tonne. A serious quotation factors them in from the start. Our financing solutions (letter of credit) make it possible to secure these payments on large volumes. financing solutions (letter of credit) make it possible to secure these payments on large volumes.
How E-Station secures your price
E-Station sources from a network of refineries in Iraqi Kurdistan and quotes directly, with no stack of intermediaries. In practice:
✓Firm quotation within 48 h, with the incoterm, grade, packaging and validity specified.
✓Minimum volume: 500 metric tonnes.
✓Secure payment by letter of credit.
✓Independent pre-shipment inspection on request.
✓CIF delivery to the ports of French-speaking Africa, the Maghreb and Europe.
Discover our full approach to bitumen trading and the different grades available such as the 35/50. bitumen trading and the various available grades such as the 35/50.
Quote within 48 hours
Request your bitumen quotation
State your grade, your quantity, your port of destination and the desired Incoterm. An expert replies with a firm offer within 48 hours.
Request a quotationThe price of bitumen closely follows that of crude oil, whose benchmark prices are published by official sources such as the U.S. Energy Information Administration. Monitoring these indicators helps identify favourable buying windows.U.S. Energy Information Administration. Monitoring these indicators helps to identify favourable buying windows.
Frequently asked questions
Does the price of bitumen track oil exactly?
No. It follows the trend of crude, but the balance between bitumen and heavy fuel oil production in refineries, the construction season and freight create gaps that are sometimes significant.
Why does drummed bitumen cost more than bulk?
Because you pay for the drum itself, its filling and its handling. In return, it can be stored without heated facilities and resold in smaller lots.
What is the minimum volume to get a good price?
Our minimum volume is 500 metric tonnes. Below that, fixed costs (inspection, documents, bank charges) weigh proportionally too heavily on the delivered price.
How do I check quality before paying?
Require the refinery’s certificate of analysis and have the cargo inspected by an independent inspection body before shipment. The letter of credit can make payment conditional on this report.