Platts to launch daily FOB Middle East bitumen assessments from Nov. 2

Platts, part of S&P Global Energy, will launch daily VG30 and VG40 bitumen spot assessments for FOB Middle East, effective Nov. 2, 2026.

The new assessments will complement Platts' existing daily and weekly bitumen assessments, providing greater price transparency and information in the waterborne trade for the product in the Asia-Pacific and Middle East markets.

Platts will launch two new daily outright assessments and their respective monthly averages. These assessments will reflect bulk viscosity grade 30 and VG40 grade bitumen, as per IS 73:2013 specifications, loading 10-30 days forward from the date of publication in the Middle East.

Pricing information for material with other specifications, such as PEN 60/70, may be considered for the assessments, normalized to the proposed standard.

The assessments will reflect market value at the close of Asian trading at 4:30 pm Singapore time and follow the Singapore publication schedule. Bids, offers and trades reported throughout the day may be considered in the assessment process, with values normalized to the market close at 4:30 pm Singapore time.

This follows a proposal published Sept. 14 and available here.

Please send any questions, comments or feedback to asia_products@spglobal.com, with a copy to pricegroup@spglobal.com.

For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make those not marked as confidential available upon request.