Roadgrip Unveils Fresh Bitumen, Emulsion Prices; Singapore Cargoes Outpace Mideast Levels

Key Highlights

• VG40 bulk at ₹36,300/MT (Karwar), VG40 drum at ₹41,200/MT (Mundra)
   
• Singapore FOB cargoes at $430.50/t, above Bahrain ($400/t) and Iran ($297–307/t)
   
• South Africa import reliance rises as Natref halts 107,000 b/d output from Sept 2025
   
• First Singapore-origin shipment headed to Durban in early September 2025

Price Update: VG40 at ₹36,300–41,200/MT; VG30 at ₹36,300–37,800/MT

• Roadgrip has announced its latest bitumen and emulsion prices across different locations. In Karwar, VG40 bitumen in bulk is priced at ₹36,300/MT, while in Mundra, the VG40 drum variant is available at ₹41,200/MT. 
• For VG30 bitumen, the drum price in Mundra stands at ₹37,800/MT, whereas in Karwar, the bulk variant is priced at ₹36,300/MT.
• Coming to emulsions, in Pithampur, the RS1 drum variant is priced at ₹36,200/MT, while the RS1 bulk variant is available at ₹31,700/MT. 
• Similarly, the SS1 drum variant is priced at ₹32,800/MT, whereas the SS1 bulk variant is slightly higher at ₹33,300/MT.
• Argus media assessed FOB Singapore ABX 1 cargoes at $430.50/t on 15 August, significantly above Middle East-origin values.
• Comparative levels show Bahrain’s FOB Sitra at $400/t and Iranian cargoes at $297.40–307/t FOB Bandar Abbas.
• Despite higher freight rates from Singapore to Durban versus Mideast to Durban routes, buyers are considering Singapore-origin cargoes due to limited alternatives.

Demand & Supply: South Africa’s Import Reliance Rises as Natref Output Halts

• South Africa’s import reliance is rising, with traditional supply sources Bahrain and Pakistan suspending exports since June and April, respectively.
• Bahrain’s Bapco has paused exports due to refinery upgrades, focusing instead on truck flows.
• Some Iranian-origin flows continue, though volumes are constrained by sanctions.
• Domestic supply pressure will intensify as bitumen production at Natref’s 107,000 b/d Sasolburg refinery ceases from September.

Market News: Singapore-Origin Cargoes Reach Durban and Lagos Amid Export Pauses

• The Bitumen Kosei (5,261 dwt) departed Singapore with a 4,700–4,800t cargo, expected to discharge in Durban in early September — the first such shipment to South Africa from Singapore in 2025.
• Earlier in August, the White Sky (5,927 dwt) delivered 4,900–5,300t of Singapore-origin cargo to Lagos, Nigeria, underlining Asia-Pacific’s growing role in supplying sub-Saharan Africa.
• US sanctions disrupted flows: the Xante was forced to turn back mid-August after being blacklisted, with sister vessel Ianthe also sanctioned.

Market Outlook: Asia-Pacific Emerges as Alternative to Middle East Suppliers

• South Africa faces increasing import requirements as Natref halts domestic production, combined with higher infrastructure budgets fueling demand. Singapore may emerge as a viable — albeit costlier — alternative. Freight and price differentials pose challenges, but constrained regional supply may keep Singapore-origin flows attractive. 
• Market participants anticipate firm price levels and a shift in sourcing patterns toward Asia-Pacific as South Africa diversifies away from traditional Middle East suppliers.