Bitumen, also known as asphalt in the United States, is a substance that forms through the distillation of crude oil. Bitumen is generally for industry use. It was first used for its natural adhesive and waterproofing characteristics, but it was also used to bind building materials together, as well as to line the bottoms of ships.

Bitumen is composed of complex hydrocarbons and contains elements such as calcium, iron, sulfur, and oxygen. The quality of material and ease of production depends on the source and type of crude oil it is derived from. The material is used most often in road paving.

1. Penetration Grade: Penetration grade bitumen is a standard bitumen usually used as a Paving Grade Bitumen essential for road construction and the production of asphalt pavements with superior properties, and it’s very important once it bounds the aggregates and creates a unique cohesion and stability to the bituminous mix. The penetration bitumen grades range from 15 to 450 for road bitumen. But the most commonly used range is 25 to 200.
2. Oxidized Bitumen: Oxidized bitumen are produced by passing air through the penetration grades. This process gives the bitumen more rubbery properties than its original formula and they are simply harder bitumen. Hard bitumen under controlled temperature conditions is widely used as an anti-slip layer compound in the piling industry, for the manufacture of roofing felts, the roofing and waterproofing industries, for sound dampening felts and undercarriage sealant in the automotive industry, electric cable joint protection, joint filling compound, sealant compound and many others.
3. Cutback Bitumen: Cutback bitumen is produced by adding petroleum distillates, such as kerosene. This action reduces the viscosity of the bitumen temporarily so it can penetrate pavements more effectively or to allow spraying at temperatures that are too cold for successfully sprayed sealing with neat bitumen. The materials which added to bitumen will vaporize after application to leave the remaining material similar in hardness to the original bitumen.
4. Bitumen Emulsion: Bitumen emulsion is heterogeneous, two-phase systems consisting of two immiscible liquids, bitumen and water, stabilized by a third component, the emulsifier. The bitumen is dispersed throughout the continuous aqueous phase in the form of discrete droplets, typically 0.5 to 5 microns in diameter, which are held in suspension by electrostatic charges.
5. Polymer Modified Bitumen: Polymer modified bitumen (PMB) is one of the specially designed and engineered bitumen grades that is used in making pavement, roads for heavy-duty traffic and home roofing solutions to withstand extreme weather conditions. PMB is a normal bitumen with added polymer, which gives it extra strength, high cohesiveness and resistance to fatigue, stripping and deformations, making it a favourable material for infrastructure.

• Cost Insurance and Freight (CIF): The seller handles everything from loading the vessel, paying for insurance and shipping the product to the country the buyer wants it delivered.
• Freight On Board (FOB): The seller is responsible for handling the transportation of the goods to the port of shipment and loading cost. Once the goods are loaded on the ship, all liabilities transfer to the buyer. Liabilities like unloading, insurance, marine freight transport and transporting products to its destination.
• Tanker Take Over (TTO): The buyer takes over the hiring of a loaded tanker along with the product it contains.
• Tanker To Tanker (TTT): The buyer hires his vessel and uses the same to purchase
  products from the seller.