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India's Fact issues tender to buy NPS

  • : Fertilizers
  • 24/09/13

Indian fertilizer importer Fact has issued a tender to buy two 20,000t cargoes of 20-20-0+13S. The tender closes on 25 September.

Fact requests delivery of one cargo to Kakinada and the other to Tuticorin, both on India's east coast. The firm seeks an arrival laycan for both cargoes of 1-31 December.

The most recent buy tender from an Indian importer for 20-20-0+13S — issued by Hurl for up to 70,000t — resulted in no offers being submitted.

Fact has also been seeking 15-15-15. It is scheduled to close a tender on 23 September for 30,000t of the product.

The latter 15-15-15 request was issued despite Fact having been offered two 25,000t cargoes of the grade by a trading firm in a tender that closed last week.

A deal has not been completed under the earlier 15-15-15 tender, but discussions have been taking place.


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24/09/13

Hurricane Francine brings rain to the lower Miss. River

Hurricane Francine brings rain to the lower Miss. River

Houston, 13 September (Argus) — Hurricane Francine dropped 4-8 inches of rain around the lower Mississippi River, raising forecast water levels on the river and potentially improving shipping conditions for barges. Points between Cairo, Illinois, and Vicksburg, Mississippi, that were at their low water thresholds over the week are now forecast to exit those thresholds in the coming week according to the National Weather Service (NWS). Increased rainfall from Hurricane Francine has locations like Greenville, Mississippi and Helena, Arkansas entering regular water levels as soon as this weekend. Other locations, such as Memphis, Tennessee, will see a bump in water levels, but will remain at its low water threshold, said NWS. The US Coast Guard has not made any changes to the draft and towing restrictions since 10 September when they changed the point for heavier loading from Greenville, Mississippi, to Vicksburg for southbound limits. More water is likely to enter the lower Mississippi River through its tributaries in the coming days, after Francine has passed the Mississippi Delta. The storm made landfall as a hurricane on the Louisiana coast the evening of 11 September but downgraded to a tropical storm as it moved northward. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Pusri sells prills at $381/t fob Indonesia: Update


24/09/13
24/09/13

Pusri sells prills at $381/t fob Indonesia: Update

Adds prilled urea sale, BFI tender details Amsterdam, 13 September (Argus) — Pupuk Indonesia subsidiary Pupuk Sriwidjaja Palembang (Pusri) sold 5,000t of prilled urea at $381/t fob today. Bids emerged earlier in the day in the $360s/t fob. There was no confirmation from the parties involved. Bids were to be valid until 17 September. International urea prices are rising in the wake of a major tender to buy in India, which resulted in more tonnage being bought than most had expected. Prilled urea remains at a considerable premium to granular product east of Suez, given the lack of shipments from China, the region's top supplier. Granular urea is priced in the $330s/t fob southeast Asia, reflecting latest bids emerging from Bruneian supplier BFI's latest sales tender, which also closed on 13 September. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Bids at $360s/t fob Indonesia in Pusri prills tender


24/09/13
24/09/13

Bids at $360s/t fob Indonesia in Pusri prills tender

Amsterdam, 13 September (Argus) — Pupuk Indonesia subsidiary Pupuk Sriwidjaja Palembang (Pusri) has today closed a tender to sell 5,000t of prilled urea in bulk for loading in October, with the highest bid so far to emerge at a mid-$360s/t fob level. A trading firm bid at a mid-$360s/t fob, with another at a low $360s/t fob. At least two other trading firms submitted prices at $350s/t fob. There was no confirmation from the parties involved. Bids were to be valid until 17 September and further negotiations will likely take place. International urea prices are on an upwards trend in the wake of a major tender to buy in India, which saw more tonnage bought than most had expected and fob levels have risen globally this week. Prilled urea remains at a considerable premium to granular product east of Suez, given the lack of shipments from the region's top supplier China, with granular urea priced at $330-335/t fob southeast Asia this week. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Norfolk Southern replaces CEO with CFO


24/09/12
24/09/12

Norfolk Southern replaces CEO with CFO

Washington, 12 September (Argus) — Eastern Class I railroad Norfolk Southern (NS) has appointed a new chief executive, replacing former executive Alan Shaw after determining he violated company policies by having a consensual relationship with the company's chief legal officer. NS' board announced late Wednesday that it had promoted chief financial officer Mark George to replace Shaw. The board said Monday it was investigating Shaw for potential misconduct in actions not consistent with NS' code of ethics and policies, but did not provide details. The railroad yesterday clarified that Shaw's departure was not related to the railroad's "performance, financial reporting and results of operations". Instead, the board voted unanimously to terminate Shaw with cause, effective immediately, for violating policies by engaging in a consensual relationship chief legal officer Nabanita Nag. She was also dismissed by NS. Shaw worked at NS for 30 years and was appointed chief executive in May 2021, following six years as chief marketing officer. Earlier this year he led NS through a proxy fight with a group of activist investors that sought his replacement. The overall effort failed but the challengers secured three seats on the board . The investors had been displeased with the railroad's financial performance and "tone deaf response" to the February 2023 derailment in East Palestine, Ohio . New chief executive George had served as NS' chief financial officer since 2019. Prior to that, he held roles at several companies including United Technologies Corporation and its subsidiaries. "The board has full confidence in Mark and his ability to continue delivering on our commitments to shareholders and other stakeholders," NS chairman and former Canadian National chief executive Claude Mongeau said. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Jordan’s APC eyes potash growth in Europe


24/09/11
24/09/11

Jordan’s APC eyes potash growth in Europe

London, 11 September (Argus) — Jordanian potash producer APC has established a new European subsidiary in Zug, Switzerland — APC Trading and Logistics Europe (APC Europe) — to help strengthen and expand its presence in the European market. The producer aims to increase sales volumes to Europe and enhance its customer service through the new entity, which will manage all stages of sales and logistics including storage, handling, re-shipping and distribution. It has rented storage facilities at Antwerp in Belgium and Terneuzen in the Netherlands to facilitate this. From these ports, the company can re-ship and distribute its products to customers across Europe, including those in France, Spain, the UK, Ireland, Benelux and eastern Europe using small vessels, river barges and trucks. Additionally, APC has been able to facilitate transshipment operations through these ports to reach even more customers. APC is already working with major buyers in north and northwest Europe, and has also developed a new European-standard potash grade to meet the specific customer needs. APC chief executive Dr Maen Nsour emphasised that its new logistical arrangements have meant that the producer can now benefit from shipping large volumes at lower freight costs compared with using smaller vessels, which were typically costlier and more difficult to source. In early September, APC Europe shipped its largest vessel of potash to Europe on the MV Draftvader , which was loaded with 54,800t of fine, standard and granular MOP for Belgium and the Netherlands. Vessel tracking data show that the vessel left Aqaba on 3 September. APC Europe plans to eventually expand its reach to southern Europe, in collaboration with partners such as the Arab Fertilizers and Chemicals Industries Company. The establishment of APC Europe shows the company's commitment to the continent. APC has been steadily growing its presence in Europe in recent years and has been diversifying its product portfolio to expand into new markets. APC chairman Eng. Shihadeh Abu Hdaib noted the importance of the European market as it would help to mitigate risks associated with the current volatile geopolitical climate, and balance the company's global sales. Increased disturbances to commercial shipping in the Red Sea since late 2023 have probably encouraged the company to pivot its focus more to the west. APC loads all of its potash from Aqaba in the northern part of the Red Sea, and freight rates have surged for vessels traversing the Red Sea as a result. Abu Hdaib also highlighted that its traditional markets have been facing strong price competition because of changes in global trade routes, which also led the company to strategically expand to new markets and regions. By Julia Campbell Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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