Singapore Bitumen Price
| Singapore Bitumen Price | |
|---|---|
| Bitumen 60/70 FOB Singapore (Bulk) | 405 ± 5$ |
April 22, 2024 | |
Singapore Bitumen
Singapore is an important Asian shipping center. This port is often considered one of the world’s top ِfive hubs in the oil trade.
The three important refineries in Singapore and their production levels are:
- ExxonMobil, with a capacity of 605,000 barrels per day
- Royal Dutch/Shell with 500,000 barrels per day
- Singapore Refining Company with 290,000 barrels per day.
The feed of Singapore’s refineries is mainly provided by imported crude oil.
The major country that exports oil to Singapore is the United Arab Emirates. Qatar, Saudi Arabia, and the United States are next on the list.
A part of imported crude oil in Singapore is dedicated to the production and refining sector.
The rest of these oil products are stored, traded, and transferred in various forms.
Bitumen Price in Singapore vs. Iran
Bitumen price in Singapore is one of the key pricing resources in the global bitumen market.
Usually, the Singapore bitumen price is higher than the Iran bitumen. The reasons for this price difference are:
1- Due to oil import, Vaccum bottom is more expensive for bitumen production because transportation and storage costs are counted to the bitumen price.
2- Also, a large amount of bitumen traded on the Singapore Stock Exchange is imported from other countries. They are re-exported to different destinations at a higher price.
Singapore imports bitumen from the United States, South Korea, and even the United Arab Emirates.
It is mainly re-exported to the target countries of Australia, Vietnam, and India.
Below is a comparison of the FOB price of penetration bitumen 60/70 in Iran and Singapore for 2021.
The following chart compares the price of 60/70 penetration bitumen in Southeast Asian countries and Iran.
It is clear that countries in Southeast Asia compete very closely with each other.
The Iran bitumen has a more affordable price while it has the necessary quality and international standards.
Infinity Galaxy Bitumen Price
Infinity Galaxy is a bitumen and petrochemical supplier based in the Middle East.
Infinity Galaxy bitumen has more workable price compared to South East Asia countries like Singapore.
We provide bitumen from reliable refineries and send your cargo by trustworthy shipping lines.
If you have further questions about the latest bitumen price in your desired destination, you are welcome to contact us.
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