Fertilizers
Overview
The fertilizer industry has seen dramatic changes in market dynamics, with challenges posed by policy and regulatory changes, political instability, conflicts and new macroeconomic realities. The drive towards energy transition and ambitious zero-carbon goals has also opened up the industry to new entrants and new opportunities.
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Southeast Asian granular urea sold at around $710/t fob
Southeast Asian granular urea sold at around $710/t fob
Amsterdam, 13 March (Argus) — Bruneian fertilizer producer BFI is understood to have sold 6,000t of granular urea at around $710/t fob following its tender on 12 March. The cargo is set to load from the end of May to the first half of April. BFI had offered two lots of 6,000t of granular urea under the tender. Traders had expected bids to emerge up to around $700/t fob before the tender's close. There is a marked differential between smaller and larger cargoes in the region, with cargoes of around 25,000-30,000t or more commanding premium prices given the option to ship to Australia. Prices for larger lots have pushed up to around $750/t fob southeast Asia basis levels in Australia, a price with which buyers in local southeast Asian markets are not able to compete. The ongoing war in the Middle East, and the effective closure of the strait of Hormuz, has left Australia particularly vulnerable, given that it is entering its peak import months for urea ahead of its winter season. Australia typically imports about two-thirds of its urea from the Middle East, with Oman now the only option to buy from in the region. A lack of availability of urea from Indonesia and China is compounding the tightness in Asia-Pacific, leaving buyers to source what they can from Malaysia, Brunei and Vietnam. Australian local urea prices are up by at least 45pc on pre-war levels, with prices hitting A$1,200/t ($1,377/t) fca Geelong this week. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US may waive Jones Act shipping restrictions
US may waive Jones Act shipping restrictions
New York, 12 March (Argus) — President Donald Trump's administration is considering temporarily waiving Jones Act restrictions on domestic shipping to ensure the stability of supply chains during the US-Israel war with Iran. While the action has not been finalized, the waiver would be for a limited period to ensure energy and agricultural products are flowing freely to US ports, the White House told Argus today. The Jones Act is a longstanding US maritime law that requires commercial vessels operating between US ports to be built, owned, operated and crewed by US citizens. Jones Act tankers normally command a premium because of their unique status and limited number compared to the overall international fleet. While permanent changes to the Jones Act require congressional approval, waivers can be issued by the president's administration, often during natural disaster-driven supply chain disruption. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Maaden, OCP sell MAP, TSP to Latam
Maaden, OCP sell MAP, TSP to Latam
London, 12 March (Argus) — Saudi Arabia's Maaden and Morocco's OCP have reported sales of MAP and TSP to Latin America at higher levels. Maaden has reported selling 15,000t of MAP at $815-820/t cfr South America for shipment this month. The cargo is likely destined for Argentina but Maaden did not comment when asked about the exact destination. The producer also did not provide details on how the cargo will ship, given that Saudi Arabia exports phosphates from Ras Al-Khair, and shipments to and from the port must pass through the strait of Hormuz, which Iran has declared closed . OCP has reported selling 50,000t of MAP and 10,000t of TSP to Latin America excluding Brazil — also likely to include Argentina — at $810-820/t cfr and $645-650/t cfr, respectively, for shipment in April. It also reported selling 30,000t of MAP to Brazil at $800-805/t cfr for shipment in April. The MAP prices net back to $775-790/t fob Morocco while TSP nets back to $615-625/t fob. Direct buy-side confirmation for the sales could not be obtained, but the MAP sales likely to Argentina are in line with Argentinian buy-side indications and reports of sales during the week. Brazilian buyers report sales at up to $800/t cfr this week. No buy-side confirmations for deals above this level have yet emerged. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Three vessels attacked near strait of Hormuz: Update 2
Three vessels attacked near strait of Hormuz: Update 2
Adds details of third attack Dubai, 11 March (Argus) — A total of three vessels came under attack in Mideast Gulf waters earlier today, the UK Maritime Trade Operations (UKMTO) said. In its latest update, UKMTO said it received a report at 02:05 GMT on 11 March from the master of a bulk carrier operating 50 miles northwest of Dubai, saying the vessel had been hit by an unknown projectile. The crew were reported safe and no environmental impact was noted. Authorities are investigating. UKMTO said earlier that it had been notified at 04:35 GMT that the crew of a cargo vessel were evacuating after it was hit by an unknown projectile 11 miles north of Oman in the strait of Hormuz, resulting in a fire onboard. Shipping sources said the vessel was the 30,197dwt Mayuree Naree , which is controlled by Precious Shipping, according to Kpler. Prior to that, UKMTO said it received a report at 01:58 GMT today from a container vessel that had sustained damage from a suspected — but unknown — projectile 25 miles northwest of Ras al-Khaimah in the UAE. All crew were safe. Today's three reported incidents are the latest in a spate of such attacks on vessels in the Mideast Gulf since the US and Israel carried out strikes on Iran on 28 February. Iran has responded with missile and drone attacks on targets in neighbouring Mideast Gulf states, including logistical and energy facilities. The retaliatory strikes have severely disrupted shipping through the strait of Hormuz — the main export route for Mideast Gulf oil and LNG. Before the war began, around 14mn b/d of crude and 6mn b/d of refined products transited the waterway. UKMTO said it has received 17 incident reports involving vessels in the Mideast Gulf, the strait of Hormuz and the Gulf of Oman since the conflict started. These included 13 attack reports and four reports of suspicious activity. US energy secretary Chris Wright said on 8 March that ship traffic through Hormuz should begin moving again soon. "We're not too long away, I think, before you'll see more regular resumption of ship traffic through the strait of Hormuz," Wright told CNN. While it may take some time for normal traffic to resume, "worst case, that's a few weeks, not months". The attacks took place a day after US president Donald Trump claimed that the strait of Hormuz "is going to remain safe". Trump offered US naval convoys for crude and LNG tankers passing through Hormuz, but his senior military commanders have indicated that they are only beginning to plan for that contingency. The US military is now focusing on eliminating the threat of mining Hormuz. But drones and missiles were responsible for attacks on tankers in the Mideast Gulf since the war began. By Nader Itayim, Elshan Aliyev and James Keates Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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