Suppliers offer 3.87mn t of urea to India's NFL: Update
Adds breakdown of offer tonnages
Indian fertilizer importer NFL has opened technical offers for its 29 August tender to buy, with 22 valid offers totalling 3.87mn t of urea.
Offers to the west coast total 2.016mn t and 1.809mn t to the east coast. There was 45,000t offered by PIC on a fob basis, bringing overall volumes to 3.92mn t. One trading firm, which offered 50,000t to the west coast, was disqualified.
OQ Trading led west coast volumes with 400,000t, while Aditya Birla offered the most to the east coast with 200,000t. Prices are expected shortly. The breakdown of offer tonnages is likely to match the accompanying table, although there has been no confirmation from the parties involved.
| India NFL 29 August urea tender (t) | |||
| Supplier | West coast cfr | East coast cfr | Fob |
| Sun International | 50,000 | 50,000 | 0 |
| Midgulf International | 150,000 | 150,000 | 0 |
| Agricommodities (ETG) | 150,000 | 47,500 | 0 |
| RE Energy | 0 | 50,000 | 0 |
| Fertistream | 80,000 | 80,000 | 0 |
| Dreymoor | 100,000 | 100,000 | 0 |
| Ameropa Asia | 136,300 | 136,300 | 0 |
| Indagro | 42,500 | 42,500 | 0 |
| Continental | 100,000 | 100,000 | 0 |
| Samsung | 135,000 | 135,000 | 0 |
| Aditya Birla | 200,000 | 200,000 | 0 |
| PIC | 45,000 | ||
| Hexagon | 50,000 | 50,000 | 0 |
| OQ Trading | 100,000 | 400,000 | 0 |
| Coastal Chemical | 90,000 | 90,000 | 0 |
| Koch | 95,000 | 95,000 | 0 |
| Keytrade | 50,000 | 50,000 | 0 |
| Macrosource | 45,000 | 45,000 | 0 |
| Medallion | 50,000 | 50,000 | 0 |
| Alkagesta | 45,000 | 45,000 | 0 |
| Agrifields | 40,000 | 0 | 0 |
| Sabic | 100,000 | 100,000 | 0 |
| Sub-total | 1,808,800 | 2,016,300 | 45,000 |
| Total | 3,870,100 | ||
Related news posts
Pusri sells prills at $381/t fob Indonesia: Update
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.
India's Fact issues tender to buy NPS
India's Fact issues tender to buy NPS
London, 13 September (Argus) — 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. By David Maher 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
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
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.
Business intelligence reports
Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.
Learn more