The fourth Saudi Arabian phosphates cargo to pass through the strait of Hormuz this week so far completed its transit earlier today.
The vessel Zagori is carrying 50,000t of DAP, which it loaded at Saudi Arabia's Ras Al-Khair port in the Mideast Gulf in late February-early March, according to vessel-tracking data from analytics platform Kpler. The cargo's destination is not yet known.
The total volume of DAP/MAP to transit the strait this week so far now stands at 203,000t. The following cargoes made it through the strait earlier this week:
- Global Unity, with 61,000t of DAP, scheduled to arrive at Visakhapatnam in India on 3 July
- Banglar Joyjatra, with 37,000t of MAP, due to arrive at Durban in South Africa on 10 July
- BC Agility, with 55,000t of MAP, scheduled to arrive at Rio Grande in Brazil on 25 July
These were the first transits since the first half of May, when the Mdl Toofan, carrying 55,000t of MAP, became the second phosphates cargo to cross the strait since the start of the US-Iran war at the end of February.
This leaves the following cargoes remaining in the Mideast Gulf:
- Bahri Wafi loaded 72,000t of DAP in early April
- Bahri Bulk loaded 71,000t of DAP in late April-early May
- Bahri Trader loaded 71,000t of DAP in late March
- Chang Chang Dong Hai loaded 55,000t of DAP in early March, which Argus understands is bound for India
Saudi Arabian producers remain cautious about loading fresh cargoes from Ras Al-Khair, despite the increase in vessel traffic through the strait of Hormuz this week. Saudi producer Maaden will load the 120,000t of DAP it sold to India in mid-June from Yanbu port in the Red Sea in July.
