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Latest market news

Saudi Arabia’s Maaden settles DAP higher in India

  • Market: Fertilizers
  • 10/02/26

Saudi Arabian phosphates producer Maaden has agreed to supply 55,000-60,000t of DAP to a buyer in India at $680-685/t cfr.

The cargo will load at Ras Al-Khair early next week, to arrive on India's east coast by the end of the week.

Argus understands that the settled price is towards the lower end of the reported range, which nets back to the high $660s/t fob or low $670s/t fob. It is up from Maaden's last settled price for DAP in India in the high $660s/t cfr in early January.

The deal is under a long-term offtake agreement between Saudi Arabia and Indian importers, signed in July.

The buy-side has not yet confirmed the settlement.

By Tom Hampson

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09/02/26

Bangladesh’s BCIC opens phosrock offers

Bangladesh’s BCIC opens phosrock offers

London, 9 February (Argus) — Bangaldeshi fertilizer importer and producer BCIC received a lowest offer at $223.90/t cfr in its tender to buy 30,000t of minimum 70 BPL (32pc P2O5) phosphate rock, which closed today. Trading firm Gentrade FZE made the lowest offer for Moroccan rock. It quoted freight at $63.40/t and a netback price of $160/t fob in the offer. Fellow trading firm Midgulf also offered in the tender. It offered Jordanian rock at $257.50/t cfr, quoting freight at $35/t and a price of $222.50/t fob. Both offers are probably for 70BPL rock. Argus assessed the midpoint of Moroccan 70BPL phosphate rock prices at $177/t fob for the fourth quarter of last year. It assessed prices for Jordanian 68-70BPL phosphate rock at $159-182/t fob for the same period. BCIC asks for the sale to be completed within 30 days of issuing the letter of credit, and for the cargo to be delivered to the TSP complex jetty at Chattogram. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Japan’s Mol commissions new VLGC for TotalEnergies

06/02/26
News
06/02/26

Japan’s Mol commissions new VLGC for TotalEnergies

Tokyo, 6 February (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) has commissioned a new very large gas carrier (VLGC) for French refiner TotalEnergies to deliver LPG and ammonia, Mol announced today. Mol has delivered the 88,000 m³ Energia Grandeur from South Korean shipbuilder Hyundai Samho Heavy Industries' Mokpo shipyard on 29 January. Mol signed a charter agreement with TotalEnergies' shipping arm CSSA, although the charter period is undisclosed. The VLGC can use LPG as a bunker fuel from a cargo tank because the LPG fuel tank is connected to a cargo tank. It is possible to reduce more than 90pc of sulphur oxides and more than 20pc of CO2 when the vessel uses LPG as a marine fuel compared with conventional fuel oil, Mol said. Japan is currently importing about 10mn t of LPG from overseas to cover 11.5mn t of domestic demand, according to the Japan LPG Association. Meti expects the downward trend will be driven further by technology innovation and highly efficient equipment which can cut users' consumption volumes. But Japan expects demand for ammonia as a fuel to increase to 3mn t/yr by 2030 and to 30mn t/yr by 2050. Japan has set a goal of a 20pc ammonia co-firing rate at domestic coal-fired power generation plants by 2030 and above 50pc by 2050 to achieve the country's 2050 decarbonisation goal. By Reina Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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India’s Hurl seeks fertilizer suppliers in tender

05/02/26
News
05/02/26

India’s Hurl seeks fertilizer suppliers in tender

London, 5 February (Argus) — Indian fertilizer importer and producer Hindustan Urvarak and Rasayan (Hurl) has issued a tender inviting producers and trading firms to enter a memorandum of understanding (MoU) for the supply of various fertilizers until 31 May 2027. The tender closes on 12 February. Hurl is seeking suppliers for the following products: DAP 18-46 NPK 10-26-26 NPS 20-20-0+13S NPK 12-32-16 NPK 15-15-15 MOP MAP 11-52 46pc TSP Hurl has not specified the total quantities of each product that it is seeking for the period. The firm will state its demand on a shipment-by-shipment basis, and suppliers with which Hurl has signed MoUs will be eligible to offer. Individual cargoes will be priced on a cfr basis. Hurl will want deliveries to ports on the east and west coasts of India. By Tom Hampson Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Abu Dhabi's Adnoc raises Feb sulphur price by $10/t

05/02/26
News
05/02/26

Abu Dhabi's Adnoc raises Feb sulphur price by $10/t

London, 5 February (Argus) — Abu Dhabi's state-owned Adnoc has set its February sulphur official selling price (OSP) for the Indian subcontinent at $530/t fob Ruwais, up by $10/t from its January OSP. Adnoc's February OSP implies a delivered price of $546-548/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east-coast of India last assessed at $16-18/t on 29 January. By Maria Mosquera Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Kanadevia, Nippon Steel Engineering to explore merger

05/02/26
News
05/02/26

Kanadevia, Nippon Steel Engineering to explore merger

Tokyo, 5 February (Argus) — Japanese engineering companies Kanadevia and Nippon Steel Engineering agreed to explore merging their businesses to meet future demand growth for waste management and waste-to-energy plants. Kanadevia and Nippon Steel's wholly owned subsidiary Nippon Steel Engineering signed the initial agreement on 5 February to explore a possible merger by April 2027. The companies aim to finalise their decision by November 2026. Kanadevia and Nippon Steel Engineering expect demand for waste management plants in Japan to grow because of the many domestic plants that are ageing, which will require renewal. The companies also forecast a rise in demand for waste-to-energy plants overseas — especially in growing markets like north America and southeast Asia — given the drive towards decarbonisation. Kanadevia has expanded its decarbonisation businesses, including to waste-to-energy plants and hydrogen- and ammonia-related products. Kanadevia's Switzerland-based green technology subsidiary Kanadevia Inova added 11 UK biogas plants to its portfolio after buying low-carbon asset management firm Iona Capital. Kanadevia plans to start commercial operations of its plant, which will produce polymer-electrolyte-membrane water electrolyser stacks , in the April 2028-March 2029 fiscal year. It also plans to invest in building production facilities for ammonia-fuelled ship engines , aiming to begin operations in 2028-29. Kanadevia will sell 25pc of its stake in its subsidiary Hitachi Zosen Marine Engine by the end of March 2026. Kanadevia expects to own 40pc, while Japan's major shipbuilder Imabari Shipbuilding will raise its share from 35pc to 60pc after the sale. The move is intended to speed up the development of ammonia-fuelled ship engines by allowing Imabari Shipbuilding to lead the project. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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