Fertilizer producer Eurochem has bought a 15,000t spot cargo for delivery to Antwerp in the second week of March at $405/t cfr, as icy conditions at Sillamae port are preventing the producer from loading ammonia from its Kingisepp plant in Russia.
The cargo was purchased from UAE-based producer Fertiglobe and will load on the Nashwan from Pivdenny port in late February. Fertiglobe purchased the Pivdenny cargo from international trading firm Ameropa last month at $268/t fob, but the sale to Eurochem nets back to around $350/t fob Pivdenny.
It could be a few weeks before Eurochem is able to load its own ammonia from Sillamae as its current vessel, Gas Snapper, is not equipped to carry out ice-condition voyages. Eurochem ships close to 40,000 t/month of ammonia from Sillamae to Antwerp.
Norwegian Yara's Coral Ivory and the new Yara vessel fleet are all ice-class vessels and can continue to load from Sillamae.
