CJ Indonesia issues tender to buy ammonia
Ammonia buyer CJ Indonesia has issued a tender requesting 6,000t for shipment to Gresik port in east Java.
The tender, which closes on 7 January, requests the ammonia be offered on a cfr price basis and valid for three days. The cargo is for 11- 13 February arrival.
Recent spot trading activity has led to a steep correction in Asian delivered prices. Mitsubishi sold two cargoes at $330/t cfr to China and Taiwan in the second half of December.
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USCG updates ongoing lower Mississippi restrictions
USCG updates ongoing lower Mississippi restrictions
Houston, 17 September (Argus) — The US Coast Guard (USCG) will further limit northbound movement for barges transiting the lower Mississippi River despite slightly higher water levels following Hurricane Francine's landfall late last week. The USCG announced on 16 September that all northbound traffic traveling from Tunica, Mississippi, to Tiptonville, Tennessee, can only have five barges wide and only four of those can be loaded. Barges also cannot be loaded deeper than 9.5ft. Any southbound traffic from Vicksburg, Mississippi, to Tunica cannot move more than seven barges wide or be drafted deeper than 10.5ft. Southbound traffic from Tiptonville to Tunica can only be six barges wide or less and cannot have a draft greater than 10ft. The USCG has updated lower Mississippi river draft restrictions about four times since the end of August, but this is the third year in a row of notable low water for the fall on the lower Mississippi river which has triggered draft restrictions to arrive more quickly than previous years. Hurricane Francine brought significant rainfall to the lower Mississippi at the end of last week . But this has not eased the minds of mariners, who anticipate the water may leave as quickly as it arrived. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Ethiopian EABC urea tender's lowest offer at $355/t cif
Ethiopian EABC urea tender's lowest offer at $355/t cif
London, 17 September (Argus) — Ethiopian Agricultural Businesses (EABC) closed a tender today to buy 250,000t of urea in five cargoes for September-October loading, with the lowest offer at $355/t cif. Pacific International appears to have offered at the lowest levels across all five cargoes on a cif basis. The firm offered lot 1 at $355/t cif, lot 2 at $359/t cif, while the offers on cif basis for the remaining three cargoes were at $368/t, $373/t, and $375/t, respectively. The urea is likely to be sourced from Oman. There were also seven other offers from suppliers. West Trade offered all cargoes, similarly to be sourced from Oman, on a cif basis at $375/t, $378/t, $380/t, $385/t and $382/t for lots 1-5, respectively. Midgulf likely offered one cargo under lot 5 at $410/t fob Egypt. Samsung offered three cargoes on a fob basis at $352/t fob Middle East, $375/t fob Egypt, and $362/t fob Middle East for lots 1,3 and 5. Supplier Fertiglobe appears to have offered $348/t fob under the first lot. ETG offered five cargoes, four of which are likely to be supplied from Onne, Nigeria, and offers were around $418/t cif, 419/t cif, $435/t cif and $422/t cif. Lot 4 was offered at $422/t cif basis and is likely to be sourced from Egypt. But there was no confirmation from the parties involved. Another supplier offered $450/t cif for lot 4. The lowest offer at $355/t cif marks a drop from $363/t cif under EABC's 12 July tender . By Dana Hjeij Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Brazil's Parana ports handle record cargo in Aug
Brazil's Parana ports handle record cargo in Aug
Sao Paulo, 16 September (Argus) — The Paranagua and Antonina ports, in Brazil's southern Parana state, handled a record amount of cargo in August thanks to increased fertilizer imports. The two ports handled 6.9mn metric tonnes (t) of cargo in August, up by 14pc from the same month in 2023 and above the prior record of 6.6mn t in June, according to Parana's port authority data. That also surpassed July's handling by 20pc. Imports totaled 2.5mn t last month, a 41pc hike from August 2023 and above the 2.2mn t handled in July. Fertilizer imports increased by 59pc to 1.2mn t in August from a year before and were 29pc — or 265,170t — above the prior month's imports. Exports reached 4.4mn t, up from 4.3mn t in August 2023 and a near 27pc increase from July's exports. Soybean shipments rose by 10pc to 1.9mn t in August from the same month last year. That was also above the 1.3mn t exported in the previous month. Corn exports decreased by 77pc to 72,900t, down from 316,430t shipped in August 2023 and almost in line with July's exports. Exports of bulk sugar increased by 34pc to 836,430t last month from the same period a year ago. That was also up by 77pc from July's exports. Parana ports handled 46.4mn t in January-August, up by 10pc from the same period in 2023, also boosted by higher imports. Imports increased by 23pc to 17.2mn t. Fertilizer imports rose by 14pc to 6.9mn t, up from 6mn t in January-August 2023. Exports totaled 29.2mn t, a 4pc increase from the same eight months last year. Soybean shipments rose by 11pc to 11.2mn t in the period, while corn exports dropped by 80pc to 581,730t from the same eight-month period in 2023. Wheat exports in January-August more than tripled to 171,830t from the same period a year before. Sugar shipments increased by 46pc to 4.2mn t. By Maria Albuquerque Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Chilean 2025 sulphuric acid contract talks kick off
Chilean 2025 sulphuric acid contract talks kick off
Washington, 16 September (Argus) — Contract negotiations for sulphuric acid supply to Chile during 2025 got under way at a major industry conference this week, with more than 2mn t to be priced. The spot price for fourth-quarter deliveries to Chile — usually a guide in talks — has averaged $163/t cfr on a midpoint basis during the third quarter, well above the $127.50/t cfr average for the current annual contract. Tight availability from most key suppliers — especially South Korea, Japan and northwest Europe — has kept spot delivered prices above the annual benchmark for several months. Suppliers will probably argue that Asian import parity will be the key factor for 2025 prices, with fewer northwest European cargoes arriving in Chile this year as a result of maintenance and Morocco's OCP absorbing spot volumes. Argus forecasts that OCP will import about 2mn t of acid in 2024, reflecting firm demand for finished phosphate products while a new sulphur burner capacity comes on line. OCP will continue importing acid as the burner ramps up. Buyers, on the other hand, will probably argue that availability will rise in Asia, and that this will lead to a shift in market dynamics in 2025. Chinese capacity is expected to increase as smelters come on stream, but tight global supply of copper concentrates could lead to an increase in idled capacity and limit acid availability for exports. Another key factor is Indonesia, where large smelters and sulphur burners associated with the electric vehicle industry are ramping up, removing some demand next year. Indonesia's sulphuric acid imports dropped by 14pc in January-July to 642,000t, after several buyers launched burners and switched to buying sulphur instead. Sulphur imports surged by 41pc in the first seven months of the year to 1.91mn t, following the expansion of burning operations at Obi Island and Sulawesi. These factors will probably foster buyer caution. But with smelting utilisation rates in Chile estimated at 65pc in 2023, below the global average of 78.2pc, according to Chilean copper commission Cochilco, the country will continue to rely on imports. By Lili Minton Chile cfr spot vs contract Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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