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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Japan’s Mol orders dual-fuel LPG, ammonia VLGCs
Japan’s Mol orders dual-fuel LPG, ammonia VLGCs
Tokyo, 16 May (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) has ordered two dual-fuel very large gas carriers (VLGCs) to deliver LPG and ammonia, with commissioning expected in 2026. Mol has reached a deal with TotalEnergies' shipping arm CSSA Chartering and Shipping Services to charter two 88,000m³ VLGCs to deliver LPG and ammonia, although the specific time period is undisclosed. The vessel will be built by South Korean shipbuilder Hyundai Samho Heavy Industries, which has developed an engine that can use LPG and fuel oil. Japan's LPG consumption totalled 11.8mn t in the 2023-24 fiscal year ending 31 March, down by 3.2pc from a year earlier, according to the Japan LP Gas Association. Japan's trade and industry ministry expects the downwards trend will be driven further by technology innovation of high efficiency equipment. But its expects ammonia demand as a fuel to increase to 3mn t/yr by 2030 and to 30mn t/yr by 2050. Japan has set a goal of a 20pc ammonia co-firing at domestic coal-fired power plants by 2030 and above 50pc by 2050 to achieve the country's 2050 decarbonisation goal. By Reina Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia’s IPL fertiliser sale process 'advanced'
Australia’s IPL fertiliser sale process 'advanced'
Singapore, 16 May (Argus) — Australian chemicals and fertilizer producer Incitec Pivot (IPL) said the sale of its fertilizer business, first proposed last year, is now in "advanced negotiations". The potential sale of Incitec Pivot Fertilizers (IPF) to Indonesian producer Pupuk Kalimantan Timur (PKT) is subject to agreeing and executing final binding transaction documents, although there is no certainty that any deal will be reached or that any sale will occur, IPL said its financial report for its October 2023-March 2024 half year on 16 May. While IPL considering the sale of its fertilizer unit first emerged in July 2023, it was unclear who the interested buyers were. PKT is a subsidiary of state-owned fertilizer group Pupuk Indonesia Holdings and has production capacity of 2.74mn t/yr of ammonia, 3.43mn t/yr of urea and 300,000 t/yr of NPKs. Should the deal eventuate, the Indonesian producer intends to continue supplying fertilizers to Australia, support the retention of IPF's workforce and grow IPF's business in Australia, PKT confirmed to IPL. IPL reported a 77pc year-on-year fall in its first-half earnings before interest and tax (ebit) to A$10mn ($6.7mn). This was mainly attributed to the closure of Gibson Island that was producing ammonia, urea, granular ammonium sulphate and diesel exhaust fluid AdBlue, as well as reduced manufacturing performance at Phosphate Hill in Queensland with a capacity of 1mn t/yr of DAP, MAP and specialty products. But its distribution business was supported by firm demand and a well-managed fertilizer supply chain with its first-half ebit more than doubling from a year earlier to A$27mn, which partially offset a weaker manufacturing performance. By Huijun Yao Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
More Egyptian urea sold at $286/t fob for June loading
More Egyptian urea sold at $286/t fob for June loading
Amsterdam, 14 May (Argus) — Egyptian fertilizer producer Mopco has sold a further 25,000t of granular urea at $286/t fob for loading next month to a European market. The producer is now targeting $290/t fob. The deal follows business which emerged at a similar level today, with Mopco selling a total of 20,000t at $286/t fob to two trading firms, while fellow producer Alexfert sold 5,000t of granular urea at $287/t fob for June loading. Trading firms covering short sales across mainland Europe and Turkey have been driving these latest deals out of Egypt, with purchases taking place earlier in the week in the lower $280s/t fob. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
India's RCF seeks key NPS and NPK grades
India's RCF seeks key NPS and NPK grades
London, 14 May (Argus) — Indian fertilizer importer RCF has issued a tender to buy 50,000t each of 20-20-0+13S and 10-26-26, plus or minus 10pc of the respective quantities. The tender is to close on 16 May, and offers must be valid to 22 May. The tender, which requests loading by 20 June, is open only to suppliers with which RCF has long-term agreements. The minimum offer quantity is 25,000t, plus or minus 10pc. Potential suppliers can offer either or both products. RCF late last month floated a tender to buy two 50,000t lots of 20-20-0+13S. It received one offer — of 50,000t from a trading firm — at $362/t cfr duty unpaid. But the offer was around $17/t higher than the price at which Saudi producer Ma'aden recently sold the grade to another Indian importer, and RCF scrapped its tender. RCF has not received a cargo of key NPK grade 10-26-26 since early November 2023, Argus data show. By David Maher Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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Insight papers - 16/05/24Firm 2021 NPK price trends extend into 2022
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Insight papers - 16/05/24What is a better way to price AdBlue in a diverging market?
The European AdBlue market totalled 4.25bn litres in 2021, more than doubling from 2014. Discover how recent volatility in this maturing market has sparked new interest in breaking ties with a legacy pricing mechanism based on Baltic urea prices, as Argus launches its new German AdBlue price assessments – offering an alternative to existing contract pricing.
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