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16/07/24

More Egyptian urea production offline: Update

More Egyptian urea production offline: Update

Adds Abu Qir's plant closure Amsterdam, 16 July (Argus) — Egyptian fertilizer firms Kima and Helwan stopped granular urea production today, citing gas shortages, while Abu Qir has halted prilled urea output. Kima's 570,000 t/yr and Helwan's 650,000 t/yr granular urea plants are both offline, having operated at 80pc of capacity since 2 July. Abu Qir's 578,000 t/yr prilled urea plant has also gone off line. It is unclear when the plants will restart, the producers said. Kima's plant is in Aswan and Helwan's is in El-Tebbin-Helwan, while Abu Qir's facility is outside of the port of the same name. Most of the country's remaining urea plants are still operating at 80pc. Mopco is running only two of its three granular urea plants at 80pc, while EFC's production status has yet to be confirmed. A gas supply crunch in Egypt has hampered urea production since 20 May, as the country prioritised gas deliveries to power plants to meet summer cooling demand. But LNG imports eased the balance at the beginning of July. Egypt fixed at least 17 LNG cargoes in a 25 June tender — seven for July, six for August and four for September. The country is seeking to bolster LNG import capacity as gas production falls and domestic demand rises. Urea export offers have yet to emerge as all producers are assessing the market and the majority are likely to initially focus on delivering previously committed volumes for export and to meet local demand. But Argus understands that some traders were offered Egyptian granular urea at $380-390/t fob for loading in late July and early August. No deal has emerged yet. By Dana Hjeij and Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Latest news

Egypt’s Kima and Helwan stop urea production


16/07/24
Latest news
16/07/24

Egypt’s Kima and Helwan stop urea production

Amsterdam, 16 July (Argus) — Egyptian fertilizer producers Kima and Helwan stopped urea production today, citing gas cutbacks. Kima's 570,000 t/yr and Helwan's 650,000 t/yr granular urea plants have both gone off line, having operated at 80pc of their respective capacities since 2 July. It is unclear when the plants will return to operation, Egyptian producers said. Kima's plant is located in Aswan, and Helwan's in El-Tebbin-Helwan. Most of the country's remaining urea plants are still operating at 80pc. Mopco is running only two of its three granular urea plants at 80pc of full capacity, while EFC's production status has yet to be confirmed. A gas supply crunch in Egypt has hampered urea production since 20 May, as the country prioritised gas to power plants to meet summer cooling demand. But LNG imports eased the gas market balance at the beginning of July. Egypt fixed at least 17 LNG cargoes in a 25 June tender — seven for July, six for August and four for September. The country is seeking to bolster LNG import capacity as gas production falls and domestic demand rises. Urea export offers have yet to emerge as all producers are assessing the market and the majority are likely to initially focus on delivering previously committed volumes for export and to meet local demand. But Argus has heard that some traders were offered Egyptian granular urea at $380-390/t fob for loading in late July and early August. No deal has yet emerged. By Dana Hjeij Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Japan’s Imabari delivers LNG-fuelled car carrier


16/07/24
Latest news
16/07/24

Japan’s Imabari delivers LNG-fuelled car carrier

Tokyo, 16 July (Argus) — Japanese shipbuilder Imabari Shipbuilding delivered an LNG-fuelled car carrier this month to domestic shipping company Mitsui OSK Line (Mol), as Mol targets 90 LNG or methanol-fuelled ships in its fleet by 2030. Imabari supplied on 12 July the Turquoise Ace with capacity for 7,000 cars. It is designed to consume boil-off gas generated within the vessel's fuel LNG tank, expected to curb carbon dioxide emissions by 25-30pc, sulphur oxide emissions by almost 100pc and nitrogen oxide emissions by 80-90pc. The ship was built by Imabari's group company Tadotsu Shipyard in west Japan's Kagawa prefecture. Mol is targeting carbon neutrality by 2050 by boosting the number of its LNG- and methanol-fuelled vessels. The firm has commissioned another LNG-fuelled car carrier the Cerulean Ace with capacity for 7,050 cars, while it plans to charter an LNG-fuelled bulk carrier for utility Kansai Electric Power to deliver coal to Kansai's Maizuru power complex in 2026. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Mitsubishi, Neste aim to boost bio-naphtha supplies


16/07/24
Latest news
16/07/24

Mitsubishi, Neste aim to boost bio-naphtha supplies

Tokyo, 16 July (Argus) — Japanese trading house Mitsubishi and Finnish refiner Neste plan to boost sales of Neste's biomass-based naphtha by enhancing their partnership in Japan. The companies signed a partnership agreement on an unspecified date, aiming to co-operate on prompting a switch from conventional petroleum naphtha to Neste's bio-naphtha. They plan to encourage Japanese downstream companies or users of petrochemical goods and plastics, like food and beverage suppliers, apparel firms and electric appliance manufacturers, to introduce bio-naphtha into their supply chains. Mitsubishi and Neste have already partnered on delivering bio-naphtha to produce renewable paraxylene for Japanese consumers Goldwin and Suntory . Japanese companies are increasingly attempting to incorporate bio-naphtha for their decarbonisation strategies. Japanese petrochemical producer Resonac has produced biomass-based olefins like ethylene and propylene since June by purchasing bio-naphtha from Neste. Fellow petrochemical producer Mitsui Chemicals bought bio-naphtha from Neste to process it at its Osaka cracker. Idemitsu and Toray have been partnering to produce styrene monomer and acrylonitrile butadiene styrene resin from bio-naphtha. Japan imported 6mn t of petroleum naphtha during January-May, down by 5.9pc from the same period in 2023, according to finance ministry data. By Nanami Oki Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Rio Tinto to boost 2H Australian iron ore shipments


16/07/24
Latest news
16/07/24

Rio Tinto to boost 2H Australian iron ore shipments

Sydney, 16 July (Argus) — UK-Australian mining firm Rio Tinto must ship at least 165mn t of iron ore from Western Australia (WA) during July-December, after a derailment disrupted exports in April-June, cutting first half sales to 158mn t. The firm maintained its WA iron ore shipments guidance of 323mn-338mn t for 2024 on a 100pc basis, despite losing six days of port deliveries because of a derailment in May. It shipped 80.3mn t of iron ore from WA on a 100pc basis during April-June, up from 78mn t for January-March , when cyclone-season weather disrupted exports. It was also up by 2pc from April-June 2023, as productivity gains offset ore depletion. The target of 165mn-180mn t for July-December is achievable for Rio Tinto, which often boosts shipments in the second half of a calendar and its financial year. It shipped 170.7mn t during July-December 2023 and 161.7mn t for January-June 2023, for a total of 332mn t in 2023. Low-grade SP10 iron ore made up 17pc of its WA sales during January-June, up from 14pc through 2023, 11pc in 2022 and zero in 2015. The firm warned that SP10 levels are expected to remain elevated until new mining projects are delivered, which is subject to approvals and heritage clearance. The proportion of the high-grade Pilbara Blend fell to 58pc for January-June from 61pc through 2023, 64pc in 2022 and 73pc in 2015. Rio Tinto is developing higher grade deposits, such as its 40mn t/yr Rhodes Ridge project, to try to reverse the grade decline in WA. The firm maintained its 2024 cash cost guidance for WA iron ore at $21.75-23.50, while warning this would be the top end of this for January-June because of the lower volumes sold. It achieved an average price of $97.30/wet metric tonne (wmt) fob WA in January-July, down from $98.60/wmt in the same period last year. The equivalent price for January-June 2024 at an 8pc moisture assumption is $105.80/dry metric tonne (dmt) fob WA. The Argus ICX price for 62pc Fe fines averaged $117.33/dmt cfr Qingdao in January-June, down from $118/dmt in the same period last year. The Iron Ore Company of Canada (IOC) — in which Rio Tinto owns 59pc — sold 8.65mn t in January-June, up 7pc on the same period last year. It is expected to raise production during July-December with better seasonal conditions to produce as much as 19.5mn t in 2024. By Jo Clarke Rio Tinto iron ore shipments (mn t) Apr-Jun '24 Jan-Mar '24 Apr-Jun '23 Jan-Jun '24 Jan-Jun '23 Pilbara Blend Lump 15.83 15.63 17.76 31.47 36.49 Pilbara Blend Fines 31.34 28.48 33.67 59.81 69.02 Robe Valley Lump 2.52 2.31 2.17 4.83 4.16 Robe Valley Fines 5.84 5.55 4.70 11.39 8.96 Yandicoogina Fines (HIY) 11.36 12.23 12.56 23.59 26.25 SP10 Lump 5.14 4.61 1.65 9.75 3.34 SP10 Fines 8.28 9.22 6.61 17.50 13.45 Total WA iron ore shipments 80.31 78.03 79.12 158.34 161.66 IOC iron ore shipments 4.13 4.52 4.43 8.65 8.05 Source: Rio Tinto Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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