What is Asphalt? Asphalt, also known as bitumen is a sticky, black, highly viscous liquid or semi-solid form of petroleum. It may be found in natural deposits or may be a refined product, and is classed as a pitch. Before the 20th century, the term asphaltum was also used. Asphalt consists of compounds of hydrogen and carbon with minor proportions of nitrogen, sulfur, and oxygen.

Our trade process spreads across CIF, FOB, TTO, and TTT, depending on the buyer’s preference. Here’s what they entail: 1). Cost Insurance and Freight (CIF): Here, the seller will handle everything from loading the vessel, paying for insurance, and sending the product to wherever the buyer wants it delivered. 2). Freight On Board (FOB): Here, the seller pays for the transportation of the goods to the port of shipment, plus loading costs, while the buyer pays the cost of marine freight transport, insurance, unloading, and transportation from the originating port to the final destination. 3). Tanker Take Over (TTO): Here, the buyer will take over the vessel, offload the product at their destination, and return it. 4). Tanker To Tanker (TTT): Here, the buyer uses their own vessel, long sides with the seller’s vessel, and then the cargo is transshipped when the transaction is fully settled.