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Latest market news

Sulphur shipment crosses the strait of Hormuz

  • Market: Fertilizers
  • 06/05/26

The Richsing Lotu, which is carrying sulphur, is the latest vessel to cross the strait of Hormuz.

The vessel loaded on 27 March at UAE's Ruwais port and has been waiting for safe passage through the Iranian and US blockades of the strait.

AIS tracking from Kpler shows the vessel navigating the strait of Hormuz on 1-6 May, and then appearing today just outside the US blockade line.

The ship is understood to be moving around 50,000t of granular sulphur to Morocco's Jorf Lasfar under usual quarterly contracts, having been delayed by the effective closure of the strait.

Several other sulphur shipments are waiting in the Mideast Gulf to exit, with estimates putting the quantity at close to 1mn t of sulphur loaded and ready to sail, with the expectation that around 60-70pc of this quantity is tied into contracts, with the balance likely to become available on the spot market when the strait is safe to navigate.

By Maria Mosquera

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05/05/26

Kuwait's KPC raises May sulphur price by $195/t

Kuwait's KPC raises May sulphur price by $195/t

London, 5 May (Argus) — Kuwait's state-owned sulphur producer KPC has set its May Kuwait Sulphur Price (KSP) at $765/t fob Kuwait, up by $195/t from the April KSP of $570/t fob. This is the highest level the KSP has reached in this round of steady price rises starting in July 2025 and since its launch in July 2019. The May KSP implies a delivered price to China of $881-887/t cfr at current freight rates, which were assessed on 30 April at $116-119/t to south China and at $120-122/t to Chinese river ports for a 30,000-35,000t shipment. 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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Abu Dhabi's Adnoc raises May sulphur price by $160/t

05/05/26
News
05/05/26

Abu Dhabi's Adnoc raises May sulphur price by $160/t

London, 5 May (Argus) — Abu Dhabi's state-owned Adnoc has set its May sulphur official selling price (OSP) for the Indian subcontinent at $760/t fob Ruwais, up by $160/t from its April OSP. This is the highest level since June-August 2008, when the OSP hit $800-820/t fob and then softened slightly to $770/t fob. Adnoc's May OSP implies a delivered price of $855-859/t cfr India, with the freight cost for a 40,000-45,000t shipment to the east coast of India, last assessed at $95-99/t on 30 April. Additional costs such as insurance premiums on top of higher bunker costs elevate delivered price levels further in addition to lower product availability. Freight costs have risen by 476pc since the onset of the US-Iran war, from $16-18/t on 26 February, driven by additional toll payments required for safe passage. 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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Dakota Gas' urea focus tied to demand, not DEF rules

30/04/26
News
30/04/26

Dakota Gas' urea focus tied to demand, not DEF rules

Houston, 30 April (Argus) — Dakota Gasification said it is prioritizing granular urea production over diesel exhaust fluid (DEF) because of a lack of fertilizer imports, indirectly rebutting US secretary of agriculture Brooke Rollins' claim that the shift was prompted by recent federal guidance around DEF sensors. Responding to Rollins' comments, Dakota Gasification on Thursday told Argus that it is maximizing urea fertilizer production at its Beulah, North Dakota, nitrogen plant "due to lack of imports into the US and significant need domestically". The company's statement appears to contradict Rollins' assertion on 28 April that Dakota Gasification is raising urea production and reducing DEF output in reaction to 26 March guidance from the US Environmental Protection Agency (EPA) that diesel engines will no longer be required to have urea quality sensors (UQS). Her remarks came as she outlined for reporters the US government's efforts to address the fertilizer affordability crisis . A significant portion of domestic fertilizer imports come from the Mideast Gulf, and the supply shock resulting from the US-Iran war has increased the cost and reduced the availability of imports to the US. Since the war started at the end of February, urea at New Orleans, Louisiana, has risen by $159/st, or 24pc, to $629/st. That is $144/st above year-ago levels. Urea is also used to produce DEF, allowing nitrogen producers to choose between producing granular urea for agricultural use or for urea liquor for DEF. Argus Analytics does not expect the EPA guidance to reduce DEF demand . Diesel engines are still required to retain their NOx sensors. If an operator dilutes its DEF, the sensors will increase the engine's dosing rate to ensure tailpipe NOx emission requirements are still met, offsetting the reduced urea content in the DEF. By Calder Jett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Egypt’s NCIC issues tender to sell fertilizers for May

30/04/26
News
30/04/26

Egypt’s NCIC issues tender to sell fertilizers for May

London, 30 April (Argus) — Egyptian producer NCIC has issued a tender to sell various fertilizers for loading in May, closing on 4 May. NCIC is offering the following: 30,000t of DAP — it sold 20,000t at up to $880/t fob in its 20 April tender 10,000t of TSP — it sold 10,000t at up to $695/t fob in its 20 April tender 30,000t of SSP — it sold 20,000t at $340-375/t fob Ain Sokhna in its 27 April tender 25,000t of urea — it sold 10,000t at up to $852/t fob Ain Sokhna in its 27 April tender 1,000t of water-soluble SOP — it sold 1,000t at up to $705/t bagged ex-works in its 20 April tender All cargoes will be ready at the port of loading on 7 May. Products will be priced on a fob basis, except for the SOP, which will be priced on an ex-works basis in 25kg bags from the Fayoum plant. Buyers must load cargoes within 27 days of the issuance of invoices. 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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QatarEnergy raises May sulphur price to $740/t

30/04/26
News
30/04/26

QatarEnergy raises May sulphur price to $740/t

London, 30 April (Argus) — State-owned QatarEnergy Marketing has raised its May Qatar Sulphur Price (QSP) to $740/t fob Ras Laffan/Mesaieed. This marks a record high for the QSP since Argus records began in 2013, with the current level $250/t above the previous high of $490/t fob in August 2022. Current freight rates last assessed at $116-122/t on 23 April for a 30,000-35,000t shipment to Chinese ports implies a delivered cost of $856-862/t cfr, with additional insurance premiums raising prices further on delivered basis to cover costs. This steep increase follows the sulphur supply crunch from the region because of the onset of the conflict, with sulphur shipments mostly still left stranded by the effective closure of the strait of Hormuz. Middle East sulphur production is at well below usual levels as a result of damage to infrastructure, including Qatar's Ras Laffan gas plant where the majority of Qatari sulphur is produced, and dwindling storage space. Sulphur loadings continue at a much reduced rate. 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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