London, 14 October (Argus) — Swedish construction company Peab Asfalt has sought bids in its tender for 2026 bitumen supply to its Nordic terminals of around 300,000t, a figure market participants said is broadly in line with the firm’s 2025 term requirements.
The move is one of a series of 2026 term requirements issued this autumn by Nordic and northwest European construction sector bitumen buyers.
Close to 170,000t of the product is being sought to meet Peab’s requirements during the 2026 peak paving season, which runs from April or May through to October or November, depending on the weather.
Peab is also seeking 130,000-140,000t as “winter-fill” supply to place into stocks. Nordic firms often do this at what are usually lower prices and premiums than during the peak paving season, for use at the start of the new season.
Peab is seeking sizeable seasonal amounts into its biggest import terminal at Pori, Finland, and into Malmo, Sweden. It is seeking around 30,000t of 70/100 pen grade bitumen into Pori, and 34,000t of pen 160,220 into Malmo and 20,000t of pen /150 into Oulu, Finland, market participants said. The largest single winter requirement is for 30,000t of pen 70/100 bitumen into Pori.
Deliveries of a variety of grades are being sought into terminals at Oxelosund, Sundsvall and Vasteras in Sweden, Tromso in Norway, Kotka in Finland, and Vandel, Uldum, Tinglev, Provostenen, Koge and Voborg in Denmark.
Peab, like many other major buyers, is also likely to seek spot supply during 2026 rather than committing to rising contractual volumes at pre-agreed price formulas.
Peab’s steady requirements are despite rising government spending on road projects, a trend likely to continue in the coming years. Sweden is driving regional demand most, with a major government spending push to bring about extensive infrastructure upgrades. Some however said the extent and scope of highway upgrades could range from a complete revamp of some of the country’s network to adding layers to existing surfaces.
Swedish imports in 2025 are at 187,000t compared with 143,500t in the same period in 2024, Vortexa data show. The Swedish government’s request for quotations from constructors on their planned bitumen use during 2026 is likely by the end of November, an indicator that should provide further clarity on demand next year.
By Navneet Vyasan
