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Latest market news

Indonesia's Kaltim awards ammonia tender

  • Market: Fertilizers
  • 07/08/18

Indonesian producer Kaltim has awarded its tender to sell ammonia to Japanese trading firm Mitsui at $360.20/t fob.

The tender offered 15,000t of ammonia available for loading in the third week of August at Bontang port. The price is $15/t higher than the previously confirmed spot sale in the country.

Mitsui is yet to confirm the price or destination of the cargo.

The CJ Indonesia tender to buy 6,000t of ammonia was possibly awarded close to $371.50/t cfr but neither counterparty has confirmed the deal.

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22/04/26

Australia backs CSBP, Incitec for urea supply deals

Australia backs CSBP, Incitec for urea supply deals

Sydney, 22 April (Argus) — Australian fertilizer companies CSBP and Incitec Pivot will receive support from Australia's federal government to secure urea shipments for upcoming winter crop applications, while May imports are likely to fall below year-earlier levels. Federal agency Export Finance Australia (EFA) has not finalised the deals, and details are being decided. The government-backed arrangement will help the importers obtain more urea, Australian minister for agriculture, fisheries and forestry Julie Collins said on 22 April. This deal will help get fertilizer to farmers, but farmers and regional businesses are still under pressure, National Farmers Federation (NFF) president Hamish McIntyre said on the same day. Australia is in its peak seasonal demand period for urea, but supply is tight and prices are high because of the US-Iran war. Four vessels carrying a total of 161,300t of urea are in transit to Australia for arrival in May, Kpler data show. This is sharply down from May 2025 when imports reached 587,400t, ABS data show. Australian urea imports are set to reach 983,700t in January-April, down by 20pc on the year, Australian Bureau of Statistics (ABS) and Kpler data show ( see graph ). Australia's national cabinet will meet later this week and NFF is calling for an agriculture specific plan to deal with fertilizer and fuel shortfalls. Australian fertilizer suppliers are confident about supply for pre-seeding applications from April, but supply for top-dressing in June and July is uncertain because restricted traffic through the strait of Hormuz has caused very tight global supply. The government gave EFA new powers on 30 March to underwrite international purchases of fertilizer and fuel under its strategic reserve laws . Argus last assessed granular urea at A$1,420-1,430/t ($1,017-1,024/t) fca Geelong on 16 April, a 68pc increase from before the war ( see graph ). CSBP and Incitec Pivot did not respond to Argus ' questions by the time of publishing. By Susannah Cornford Australian urea imports (t) Granular urea fca Geelong (A$/t) Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Italian urea spring needs mostly covered

21/04/26
News
21/04/26

Italian urea spring needs mostly covered

London, 21 April (Argus) — Italian urea imports will probably be limited for the rest of the quarter as high international prices have curbed demand, leaving buying interest for the 2026 spring corn season almost fully covered. Market estimates put urea demand destruction at 15pc for the mid-March/mid-June spring season this year, meaning that total demand could slip to 300,000-350,000t. Combined lined-up imports since March and domestic production estimates over the period are expected at around 300,000t, meaning that Italy has already mostly covered its urea needs for the corn season, limiting its need for further imports this quarter. Italian urea demand for the spring season, typically concentrated from around mid-March to mid-June for corn applications, usually amounts to 350,000-400,000t. But importers and distributors expect demand destruction for the season of 10-20pc of normal levels. Domestic urea prices have leapt since the start of the war in the Middle East and the closure of the strait of Hormuz. They rose from €522/t fca in big bags at the midpoint at the end of February to €770/t fca in big bags on 16 April, Argus data show. This is up from €435/t at the midpoint on 11 April last year, a 77pc year-on-year rise. Yara's Ferrara plant returned to full production in early March, following maintenance in most of December-February. The plant is understood to have a monthly production capacity of slightly under 50,000t. Assuming full-capacity output in March-May, this could add around 150,000t of urea supply to the market. And up to 149,000t of urea has been lined up for arrival in Italy in March-April, vessel tracking data show. This is below the 249,000 t/yr average for the period over 2021-25, but adds to 139,000t of urea imports in January-February, GTT data show. Importers and distributors this week have reported that traders aim to re-export at least 30,000t of urea to India, where importer IPL has secured a record 2.79mn t in its 15 April tender. This could not be confirmed with the alleged relevant parties, and IPL's tender is yet to be finalised. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Iran yet to commit to new US ceasefire talks

20/04/26
News
20/04/26

Iran yet to commit to new US ceasefire talks

Dubai, 20 April (Argus) — Iran has signaled deep mistrust of the US and is yet to commit to joining potential renewed negotiations in Pakistan. Foreign ministry spokesman Esmail Baghaei today said Tehran is wary of Washington's intentions. "We must be cautious of the enemy's conspiracies," Baghaei said in comments carried by state-news agency IRNA, adding that Iran "cannot forget" recent experiences in which diplomacy was, in his view, undermined. Iranian president Masoud Pezeshkian echoed that stance today, calling for a "rational approach" to the current situation while stressing the need for "utmost vigilance" in dealings with the US, who he said had been displaying contradictory behavior. He said Iran should pursue diplomatic efforts to reduce tensions while continuing to resist external pressure. The remarks come as a two-week ceasefire, brokered by Pakistan and nominally in effect until 22 April, faces growing strain. The US at the weekend said it intercepted and disabled an Iranian-flagged cargo vessel attempting to breach its blockade on Iranian ports. Tehran described this as "armed piracy" and warned of potential retaliation. Oil prices rose today with the prospect of the ceasefire ending. At 11:20 GMT, the Ice front-month June Brent contract was at $95.19/bl, up by $4.81/bl from its settlement on 17 April, when it ended $9.01/bl lower. The weekend episode underscores the central friction point between the two sides: the US blockade of Iranian ports, and Iran's chokehold over commercial transit through the strait of Hormuz. Baghaei today rejected what he described as "unrealistic" US demands, reiterating that key issues — including its missile programme and broader defensive capabilities — are not open for negotiation. But neither side appears to be closing the door entirely. US officials had been preparing for a new round of talks in Pakistan ahead of the ceasefire's expiry, and regional mediators continue to engage both sides, suggesting that diplomatic channels remain active despite the escalation in rhetoric. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Shipowners wary after Hormuz reopening pledge: Update

17/04/26
News
17/04/26

Shipowners wary after Hormuz reopening pledge: Update

Adds Bimco comment in final paragraph London, 17 April (Argus) — Iran's announcement that the strait of Hormuz is open to commercial vessels is unlikely to trigger an immediate pickup in tanker traffic through the waterway, as shipowners remain wary of security risks and the terms of passage remain unclear, market sources told Argus . Iran said on Friday that the strait would be open for commercial shipping for the duration of the US-Iran ceasefire, following a halt to fighting in Lebanon. But the limited timeframe and lack of detail are likely to deter shipowners from resuming transits straightaway, participants said. Owners would probably still have to "co-ordinate with Iran and adhere to their rules, unless of course the conditions are specified and more clarity appears, in which case more ships would consider the transit", one market participant said. Questions also remain around routing and tolls. Iran said passage would be permitted on the "co-ordinated route as already announced", which is likely to refer to the channel between the islands of Qeshm and Larak. This could imply that Iran will continue charging transit tolls. Transits through the strait have continued despite the US naval blockade on ships entering or leaving Iranian ports, which President Donald Trump has said will remain in place until peace talks with Iran are concluded. But the blockade is focused on the mouth of the Gulf of Oman rather than the strait itself, raising concerns that vessels exiting the waterway could still be intercepted further downstream, participants said. At least 10 vessels crossed the strait of Hormuz with their AIS transponders active in the past 24 hours, most of them westbound into the Mideast Gulf. Of those crossings, three were eastbound. These included the Shalamar , a Pakistani-flagged Aframax tanker that loaded at Das Island on 12 April and is heading to Karachi, according to Kpler data. The announcement about reopening the strait may be aimed primarily at allowing vessels already in the Gulf to exit, easing vessel availability constraints, rather than encouraging ships to enter for new business, according to one market participant. The International Maritime Organisation (IMO) is assessing Iran's announcement for compliance with freedom of navigation and use of the IMO-recognised traffic separation scheme. Shipping association Bimco, meanwhile, said the announcement does little to change the risk outlook for vessels. Trump's claim that the strait is "fully open" is inaccurate, as the status of mine threats within the traffic separation scheme remains unclear, Jakob Larsen, Bimco's chief safety and security officer, said. The scheme has not been declared safe for transit, and shipping companies should "consider avoiding the area", he added. By Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Tanker owners wary after Hormuz reopening pledge

17/04/26
News
17/04/26

Tanker owners wary after Hormuz reopening pledge

London, 17 April (Argus) — Iran's announcement that the strait of Hormuz is open to commercial vessels is unlikely to trigger an immediate pickup in tanker traffic through the waterway, as shipowners remain wary of security risks and the terms of passage remain unclear, market sources told Argus . Iran said on Friday that the strait would be open for commercial shipping for the duration of the US-Iran ceasefire, following a halt to fighting in Lebanon. But the limited timeframe and lack of detail are likely to deter shipowners from resuming transits straightaway, participants said. Owners would probably still have to "co-ordinate with Iran and adhere to their rules, unless of course the conditions are specified and more clarity appears, in which case more ships would consider the transit", one market participant said. Questions also remain around routing and tolls. Iran said passage would be permitted on the "co-ordinated route as already announced", which is likely to refer to the channel between the islands of Qeshm and Larak. This could imply that Iran will continue charging transit tolls. Transits through the strait have continued despite the US naval blockade on ships entering or leaving Iranian ports, which President Donald Trump has said will remain in place until peace talks with Iran are concluded. But the blockade is focused on the mouth of the Gulf of Oman rather than the strait itself, raising concerns that vessels exiting the waterway could still be intercepted further downstream, participants said. At least 10 vessels crossed the strait of Hormuz with their AIS transponders active in the past 24 hours, most of them westbound into the Mideast Gulf. Of those crossings, three were eastbound. These included the Shalamar , a Pakistani-flagged Aframax tanker that loaded at Das Island on 12 April and is heading to Karachi, according to Kpler data. The announcement about reopening the strait may be aimed primarily at allowing vessels already in the Gulf to exit, easing vessel availability constraints, rather than encouraging ships to enter for new business, according to one market participant. The International Maritime Organisation (IMO) is assessing Iran's announcement for compliance with freedom of navigation and use of the IMO-recognised traffic separation scheme. The review adds to uncertainty for shipowners, who may be reluctant to use a route that has not been formally endorsed. By Rhys van Dinther Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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