Spain eyes renewed Algerian urea trade

Spanish Market: Fertilizers
08/11/24

The Algerian government appears set to resurrect its commercial agreement with Spain, having stopped trade in June 2022 following a political dispute, prompting the potential renewal of urea shipments between the countries.

The return of trade between Algeria and Spain is increasingly likely, as tensions between the countries ease. Algeria announced an end to its side of a 2002 co-operation agreement with Spain in June 2022 following a dispute related to the Western Sahara.

Details regarding the expected renewal of the agreement are scant so far, and Spanish importers are unclear as to how and when trade can return. The potential restart of urea shipments is only likely to emerge after the start of 2025, as suppliers will have to wait for fresh export licences with Spain listed as a permitted destination, traders said. Trading firms are typically granted annual export licences before the start of each year.

Algeria was the largest supplier of urea to Spain in 2021, accounting for a third of the 1mn t imported that year. Egypt has since taken Algeria's market share, with its exports making up just over 40pc of Spanish urea imports so far this year.

Algeria has 3.6mn t/yr of granular urea capacity, with AOA operating two 1.2mn t/yr plants and Sorfert the remaining 1.2mn t/yr facility.

By Harry Minihan

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08/11/24

Talks to restart as port of Vancouver lockout drags

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Nutrien lowers 2024 nitrogen sales guidance

07/11/24

Nutrien lowers 2024 nitrogen sales guidance

Houston, 7 November (Argus) — Major fertilizer producer Nutrien lowered its 2024 nitrogen sales guidance following extended turnarounds and unplanned outages in the third quarter. Nutrien reduced its expected sales of nitrogen products in 2024 by 200,000 metric tonnes (t) to 10.6mn t, the company said in its third quarter earnings report. Nutrien's Port Saskatchewan facility in Alberta suffered from a power outage during the period causing unexpected downtime, Nutrien said. The producer's Augusta, Georgia , and Geismar, Louisiana , plants experienced brief outages following hurricanes in the US Gulf coast in September. Nutrien's Trinidad nitrogen facility wrapped up a turnaround in the third quarter, Nutrien said. And the producer's Lima, Ohio, plant also underwent a turnaround from August into September, according to sources. Third quarter nitrogen sales increased by 2.8pc from a year ago to 2.45mn t despite outages at its plants. But Nutrien estimated US nitrogen inventories to be "well-below average levels" at the end of the third quarter, which the company expects to support demand in the coming months. Nitrogen markets have been supported by tightness in global supplies, with the company pointing towards supply disruptions, delays of new capacity, and rising European natural gas prices. China's restrictions on urea exports and production challenges elsewhere have firmed nitrogen markets as well, Nutrien said. On the demand side, urea consumption in China has grown 14pc annually, bringing consumption there to 60mn t as the government focuses on domestic agricultural production, Nutrien said. In the US, crop margins have declined compared to recent years on lower crop prices and higher costs, but below-normal grain stocks globally should support US agricultural markets, Nutrien said. The company said it expects strong fall nitrogen demand following significant nutrient depletion and an early harvest. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Indian importers buy 110,000t of Saudi DAP

07/11/24

Indian importers buy 110,000t of Saudi DAP

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Port of Vancouver grinds to halt as picket lines form

05/11/24

Port of Vancouver grinds to halt as picket lines form

Calgary, 5 November (Argus) — Commodity movements at the port of Vancouver have halted as a labour dispute could once against risk billions of dollars of trade at Canada's busiest docks. The International Longshore and Warehouse Union (ILWU) Local 514 began strike activity at 11am ET on 4 November, following through on a 72-hour notice it gave to the BC Maritime Employers Association (BCMEA) on 1 November. The BCMEA subsequently locked out workers hours later that same day, 4 November, which the union says is an overreaction because the union's job action was only limited to an overtime ban for its 730 ship and dock foreman members. Natural resource-rich Canada is dependent on smooth operations at the British Columbia port of Vancouver to reach international markets. The port is a major conduit for many dry and liquid bulk cargoes, including lumber, wood pellets and pulp, grains and agriculture products, caustic soda and sodium chlorate, sugar, coal, potash, sulphur, copper concentrates, zinc and lead concentrate, diesel and renewable diesel liquids and petroleum products. These account for about two-thirds of the movements through the port. Canadians are also reliant on the port for the import of consumer goods and Asian-manufactured automobiles. The two sides have been at odds for 19 months as they negotiate a new collective agreement to replace the one that expired in March 2023. Intervention by the Canada Industrial Relations Board (CIRB), with a hearing in August and September, followed by meetings in October with the Federal Mediation and Conciliation Service (FMCS), failed to culminate in a deal. The BCMEA's latest offer is "demanding huge concessions," according to the ILWU Local 514 president Frank Morena. The BCMEA refutes that, saying it not only matches what the ILWU Longshore workers received last year, but includes more concessions. The offer remains open until withdrawn, the BCMEA said. A 13-day strike by ILWU longshore workers in July 2023 disrupted C$10bn ($7.3bn) worth of goods and commodities, especially those reliant on container ships, before an agreement was met. Grain and cruise operations are not part of the current lockout. The Westshore coal terminal is also expected to continue operations, the Port of Vancouver said on 4 November. The Trans Mountain-operated Westridge Marine Terminal, responsible for crude oil exports on Canada's west coast, should also not be directly affected because its employees are not unionized. In all, the port has 29 terminals. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Urea prices soften further west of Suez

05/11/24

Urea prices soften further west of Suez

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