Fertilizers
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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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Saudi DAP cargo transits Hormuz: Update
Saudi DAP cargo transits Hormuz: Update
London, 23 June (Argus) — Since the start of the week, three out of eight Saudi Arabian DAP/MAP cargoes stuck in the Mideast Gulf have managed to transit through the strait of Hormuz, totalling 154,000t of product. The Global Unity carrying 61,000t of Saudi Arabian DAP crossed the strait of Hormuz yesterday and is scheduled to arrive at Visakhapatnam in India on 3 July, vessel tracking data show. The cargo loaded at the Saudi port of Ras al-Khair in the first half of March but the effective closure of the strait of Hormuz following the outbreak of the regional war prevented it from leaving the Mideast Gulf. The Banglar Joyjatra crossed last night with 37,000t of MAP. The trader holding the cargo has specified that all the volume will go to South Africa, likely for arrival in early July. The cargo loaded at Ras al-Khair in early April. Vessel tracking data shows that the BC Agility has crossed the strait with 55,000t of MAP for arrival at Rio Grande in Brazil on 25 July. Loading had completed in the second half of March. These crossings come after a deescalation of tensions between the US and Iran last week. They mark the first phosphate cargoes to cross the strait since the first half of May, when [the Mdl Toofan carried 55,000t of Saudi MAP](https://direct.argusmedia.com/newsandanalysis/article/2825221) to Brazil. Another 319,000t of Saudi Arabian DAP/MAP is still stuck on five vessels in the Mideast Gulf. Phosphates sellers and buyers have remained cautious about last week's announcement of a provisional peace deal between the US and Iran. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hormuz traffic management changed forever: Iran
Hormuz traffic management changed forever: Iran
Dubai, 23 June (Argus) — Administration of the strait of Hormuz will never return to how it was prior to the US-Iran war and will instead be managed by Tehran, according to the country's parliament speaker and top negotiator Mohammad Bagher Ghalibaf. "Everyone needs to know that management of the strait will never return to the way it was before the war," Ghalibaf said. The strait has emerged as a key point of contention since the early days of the war, with Iran insisting that it and Oman, as the two countries bordering the waterway, should play a role in controlling how it is used and which vessels are allowed to pass through it. Tehran in May set up a maritime authority, the Persian Gulf Strait Authority (PGSA), in an effort to consolidate its control. The PGSA would manage transit through the strait and has said it has engaged with hundreds of vessels seeking permits to pass safely, in some cases for a toll or fee. The US-Iran interim deal, signed last week, called for Tehran to ensure movement of vessels from the Mideast Gulf to the Gulf of Oman, and vice versa, with the aim of returning traffic to pre-war levels within 30 days — by around 18 July — while allowing Iran to "remove technical and military obstacles and removal of mines." Latest data from Kpler show an uptick in seaborne Iranian crude and oil product exports as of the week starting 15 June, coinciding with the US lifting the blockade it imposed on Iranian ports in April. Iran has agreed not to charge tolls for passage through the strait, at least for the initial 60 days. But it appears intent on keeping the PGSA in control of all traffic. "Of course, we will fully comply with international law," Ghalibaf said. "But people need to understand [that administration of the strait will remain with Iran]." He said the US and Iran have agreed to "establish co-ordination mechanisms there including a hotline and a centre that can be contacted whenever there is any ambiguity or dispute." "Because the administration/management of the strait is with us, we will manage it easily," said Ghalibaf. "If there is any issue, we will solve it." A tale of two shores But Iran will have to act in co-ordination with Oman, which controls the strait's southern shore, and the two have held a meeting that could help institutionalise a new administrative regime. They agreed to form "a joint working group" to "reach agreement on the future administration of navigation in the strait of Hormuz and the services that will be provided in this regard and the costs associated with them in accordance with international standards," the Omani foreign ministry said on 23 June. Oman's foreign minister Badr Albusaidi said the sides "affirmed commitment to international law and toll-free safe passage." Any toll for passage would be incompatible with the UN Convention on the Law of the Sea (Unclos), notably Articles 38 and 42 that provide "all ships and aircraft enjoy the right of transit passage" that "shall not be impeded". Measures adopted by states bordering a strait must not have "the practical effect of denying, hampering or impairing the right of transit passage," Unclos states. But Article 42 also says states bordering straits may adopt laws and regulations relating to transit passage in respect of the safety of navigation, the regulation of maritime traffic, and the prevention, reduction and control of pollution. "The services that will be provided… and the costs associated with them in accordance with international standards," as mentioned by the Omani foreign ministry, will require clarification. By Nader Itayim and Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Several sulphur vessels exit Hormuz after peace deal
Several sulphur vessels exit Hormuz after peace deal
London, 22 June (Argus) — Several sulphur vessels have transited the strait of Hormuz since the signing of the peace deal between the US and Iran last week. The Espada X dwt 88,300 loaded at Ruwais, UAE, and has an estimated time of arrival (ETA) of 18 July at Jorf Lasfar, Morocco. MV Toro dwt 55,000 loaded in Ruwais, UAE, and has an ETA of 28 June in Aqaba, Jordan. The Yan Dang Shan dwt 63,300 loaded in Ruwais, UAE, and is sailing towards Indonesia. The Xin Qi Men dwt 81,600 loaded sulphur at Ruwais, UAE, and is headed for China. These vessels follow earlier three transits identified as having exited the strait a week ago: The Nejat dwt 38,000 for Bahodopi, Indonesia, loaded in Ras Laffan, Qatar. Two vessels for Dar Es Salaam, Tanzania; the Abu Al Abyad dwt 57,000 from Ruwais, UAE,and the Safeen Al Nasr dwt 36,600 loaded in Al Zour, Kuwait. These deliveries are all believed to be contract shipments or earlier sales. With some vessels having been able to sail, approximately 500,000t of sulphur in still believed to remain loaded onto ships in the strait, much of it committed under earlier contracts. Some vessel operators were left confused on the status of the strait, with some attempting to exit on 17 and 18 June, only to be forced to turn back due to a lack of permission. Confusion remains over the status, and many consider crossing to be too big of a risk in the current, volatile situation. Since the start of the conflict 28 February, an estimated 480,000t-500,000t of sulphur has managed to exit the strait of Hormuz at a slow pace up until mid-June. This is around 10pc of the usual rate of sulphur exports from the region. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Pupuk Indonesia closes tender to buy August amsul
Pupuk Indonesia closes tender to buy August amsul
Singapore, 22 June (Argus) — State-owned Pupuk Indonesia has closed a tender today to buy a total of 100,000t of bulk standard caprolactam-grade ammonium sulphate (amsul) for delivery in August to its subsidiary Pupuk Petrokimia Gresik (PKG). Pupuk Indonesia requested that offers be submitted on a formula price with a variable discount. The lowest offer was around $10/t, market participants said, although this was not confirmed by the companies involved. PKG has requested five single shipments of 20,000t each to Gresik port, to be delivered on a weekly basis, except in the third week of August where two cargoes are scheduled. Argus last assessed southeast Asia delivered standard amsul prices at a midpoint of $247.50/t cfr on 18 June. Amsul prices have been on a downward trend in recent weeks, tracking a weakening urea market. By Dinise Chng Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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