Bullish sentiment remains the dominant theme across the global merchant ammonia market against a backdrop of planned and unplanned plant outages that have taken a large bite out of export volumes in key regions. Industry majors Yara and Mosaic just settled the Tampa contract for October loadings at $590pt cfr, up $50pt from this month’s…
Activity in the global ammonia market moved up several gears as participants digested a large hike in the closely followed Tampa contract for next month and awaited the fall out from a major plant shutdown in Saudi Arabia that will see at least 170,000t lost. The settlement by Mosaic and Yara of the US benchmark…
Nigerian fertilizer major Dangote and Ethiopian Investment Holdings (EIH) have signed an agreement to develop a urea production complex in Gode, Ethiopia. The project will have an annual capacity of up to 3m. tonnes, a capacity that positions the facility among the largest urea factories in the world. The agreement also includes outlines for plans…
Leading nitrogen fertilizer producer Fertiglobe has revealed that it used recent downtime at Egyptian plants exacerbated by the Israel-Iran conflict to perform critical maintenance and defer extensive turnarounds. Those actions have reduced its expected capex for 2025 to the lower end of its previous guidance of $145–170 million, the Abu Dhabi-headquartered major revealed in notes…
With the market tightening and prices firming West of Suez on persistent capacity constraints in Algeria and Egypt, but the opposite picture seen in the East on plant restarts, arbitrage opportunities have emerged for August and September business. While access to the Red Sea from the Middle East remains limited to a handful of suppliers,…
The market is poised for the forthcoming Indian Potash Limited (IPL) tender, with the inquiry set to shape trade well into September. The state agency will close the tender on 4 August and is targeting up to 2m. tonnes of urea for shipment by 22 September. Bids should be valid up to 8 August. The…
Fears over capacity curtailments at leading ammonia production hubs in the Americas, North Africa and the Middle East saw the market swing into bull territory this week, though the true extent of the supply squeeze has yet to be confirmed. Firmer prices were heard across all regions, with the price rally in the East driven…
The onset of the Israel-Iran conflict has ushered in a new round of supply cutbacks, spurring a major advance in global urea values. Few in the market had anticipated such an escalation in tensions, as evidenced by offer levels into recent major urea inquiries and those in many markets late last week. Global fob values…
NH3 Clean Energy, Pilbara Ports and Oceania Marine Energy have signed an agreement to establish low emissions ammonia bunkering operations at Australia’s Port of Dampier and support the decarbonisation of the Pilbara-Asia maritime corridor. The agreement follows the International Maritime Organisation’s (IMO) recent announcement of its Net Zero Framework which sets mandatory emissions limits and…
While Monaco is world famous for its culture of risk taking and high stakes, ammonia market participants at this week’s industry conference in the wealthy principality opted to stick, not twist when it came to stepping up to the table and striking deals. The reluctance to conclude business, or even show their hands in many…