Pupuk Indonesia closes tender to buy August amsul

Spanish Market: Fertilizers
22/06/26

State-owned Pupuk Indonesia has closed a tender today to buy a total of 100,000t of bulk standard caprolactam-grade ammonium sulphate (amsul) for delivery in August to its subsidiary Pupuk Petrokimia Gresik (PKG).

Pupuk Indonesia requested that offers be submitted on a formula price with a variable discount. The lowest offer was around $10/t, market participants said, although this was not confirmed by the companies involved.

PKG has requested five single shipments of 20,000t each to Gresik port, to be delivered on a weekly basis, except in the third week of August where two cargoes are scheduled.

Argus last assessed southeast Asia delivered standard amsul prices at a midpoint of $247.50/t cfr on 18 June.

Amsul prices have been on a downward trend in recent weeks, tracking a weakening urea market.

By Dinise Chng

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20/06/26

Iran says Hormuz closed; US says flows intact

London, 20 June (Argus) — The US and Iran issued conflicting accounts of conditions in the strait of Hormuz on 20 June, with Tehran saying it has closed the waterway, while Washington said commercial shipping continues to transit. Iran's claim — carried by the IRGC-affiliated Tasnim news agency and citing the Khatam al-Anbia Central Headquarters — said the strait had been closed to vessel traffic in response to continued Israeli strikes in southern Lebanon following a ceasefire with Lebanese militia group Hezbollah, which it said breached commitments under the recent memorandum of understanding with the US. The headquarters characterised the move as a "first step" and warned further measures could follow if hostilities persist. But US Central Command (Centcom) indicated no disruption to flows, saying 55 merchant vessels transited the strait during the day, carrying more than 17mn bl of oil to global markets. Safe passage through the waterway "remained intact", it said, with US forces operating in the area to support freedom of navigation. No shipping incidents were reported in the region on 20 June. Ship-tracking data also show vessel traffic via the strait of Hormuz continues. The 26,361dwt LPG tanker Pacific Star I continued its passage, and no U-turns were detected as of 23:00 BST (22:00 GMT) on 20 June. Some vessels may have switched off their Automatic Identification System (AIS) signals, while others may have stopped. The 56,880dwt bulk carrier KSL Qingyang halted earlier on 20 June after almost crossing the strait eastwards, Kpler data show. Some tankers appear to be favouring a southern route closer to Omani shores. The VLCC Angola B , sailing from Zirku Island in the UAE, crossed the strait near Omani waters earlier, but may have switched AIS off afterwards. The ballast VLCC Bahrain Prosperity passed westwards through the strait near Omani shores into the Mideast Gulf on 20 June, according to Kpler data. Two more VLCCs, Monaco Loyalty and Gulf Sunrise , were approaching the entrance to the strait near Oman but may have switched AIS off around the time Tasnim reported the closure, Kpler data suggest. US president Donald Trump has not commented directly on the reported closure of the strait but addressed the issue of tolls in a post on the Truth Social platform, saying there would be no charges during the 60-day negotiating period and none afterwards unless the US chose to impose them if no final deal with Iran is reached. Iranian state media reported that a delegation had arrived in Switzerland ahead of talks with US negotiators, led by vice-president JD Vance. "I think we're going to hopefully make progress on the nuclear issue, make progress on the Lebanon ceasefire issue," Vance said before boarding his flight. Israel carried out a strike on Hezbollah on 19 June despite the ceasefire, prime minister Benjamin Netanyahu said. Israel's foreign ministry accused Hezbollah of "violating the ceasefire and attacking Israeli civilians". By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Pakistan DAP stocks rebound during off-season

19/06/26

Pakistan DAP stocks rebound during off-season

London, 19 June (Argus) — Pakistan's DAP inventories recovered slightly over May despite a second consecutive month without imports as demand slowed. Demand totalled 61,000t in May, NFDC data show, below the 94,000t five-year average for the month in 2021-25. While May is the typical off-season, offtake has been slowed further by demand destruction thanks to higher domestic prices. Domestic production rose slightly but remains broadly in line with normal at 78,000t. Local phosphate producer Fauji secured its usual volumes of phosphoric acid for the second quarter despite a slowdown in Moroccan output because of tight sulphur availability. There were no imports again in May, as buyers were put off by higher prices since the start of the Mideast Gulf war. Attempts to secure Saudi Arabian DAP failed as the strait of Hormuz remains largely closed. Pakistan entered June with 220,000t of DAP in stock, below the 265,000t five-year average for the period but still relatively comfortable given tightness in global supply over the second quarter. Importers will have to secure more DAP The country has enough DAP for most of the third quarter, but more imports will be needed to cover the high season from October onwards. Using NFDC June opening stocks, production and demand estimates, as well as the 64,000t of DAP lined up for arrival in Pakistan in June according to Argus data, Pakistan could enter the October-March rabi season with 61,000t of DAP in stock. Pakistan finished September with an average stock level of 335,000t of DAP in 2021-25. If it wants to enter October with similar inventories, Pakistan will have to step back into the market in the third quarter. International prices currently remain firm, but importers hope that the signing of a memorandum of understanding between the US and Iran will allow for a return to normalcy for cargo transit via the strait of Hormuz. Bearish sentiment in the market pressured the weekly DAP assessment down to $925-950/t cfr Pakistan yesterday. By Adrien Seewald Pakistan long-term DAP inventories-offtake '000t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil's Cibra sells blending unit in Parana state

17/06/26

Brazil's Cibra sells blending unit in Parana state

Sao Paulo, 17 June (Argus) — Brazilian fertilizer firm Cibra will sell its blending unit in southern Parana state to Brazilian fertilizer firm Inpek Fertilizantes, which is part of US fertilizer firm Nitron. The transaction has been submitted to Brazil's antitrust watchdog Cade and involves physical assets and operating licenses of a unit focused on blending mineral fertilizers, which is operating at reduced capacity. The transaction is part of Cibra's strategy of focusing investments on operations that offer greater efficiency, the company told Argus . The unit's production capacity and transaction values were not disclosed. By Bruno Castro Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Phosphates market cautious over Hormuz deal

15/06/26

Phosphates market cautious over Hormuz deal

London, 15 June (Argus) — There has been no notable change in the transit of phosphate shipments in and out of the strait of Hormuz following Sunday's announcement from US president Donald Trump that an agreement with Iran was "now complete". Market reactions are mixed but edge towards caution. Vessel traffic through the strait of Hormuz has not changed since the announcement on Sunday of a US-Iran peace deal, based on AIS tracking data. This suggests shipowners are waiting for the planned signing on 19 June and further details before attempting transits. Saudi Arabian DAP/MAP cargoes in the Mideast Gulf remain stuck, according to latest Kpler vessel tracking data, with little sign of movement: Banglar Joyjatra , carrying 38,000t of MAP for southern Africa, is stuck off the coast of the UAE. Bahri Trader is on standby in the middle of the Gulf, off the coasts of Iran's Kish Island, Qatar and the UAE, carrying 71,000t of DAP for India. BC Agility is waiting with 55,000t of MAP for Brazil off the coast of the UAE. Global Unity has 61,000t of DAP for India. Last week it had been moving from Ras Al-Khair to the UAE coast but has not moved since. Chang Chang Dong Hai is holding steady off the coast of the UAE with 55,000t of DAP/MAP. Zagori is still anchored at Saudi Arabia's Dammam port with 50,000t of DAP for Australia. Bahri Bulk is carrying 71,000t of DAP and is still waiting off the coast of Saudi Arabia. Bahri Wafi is also anchored off the coast of Saudi Arabia with 72,000t of DAP. Market remains prudent despite early optimism Trader and importer reactions were mixed over news of the deal. Some are optimistic, citing an indicative $100/t drop in cfr levels for Saudi Arabian DAP to Pakistan. One trader with a MAP cargo stuck in the Gulf expects to be able to ship the cargo through the strait this week. While raw materials costs are likely to remain elevated for global phosphates producers as sulphur supply will take months to normalise, Chinese domestic sulphur prices fell sharply today following news of the deal. Other reactions were more careful. Several traders say that both ratification of the agreement on 19 June and more assurances are required. They add that buyers will remain cautious not to book any fresh cargoes because of the possibility that market prices may soon soften. Demining operations will still take weeks to complete, and until then, inward traffic into the Gulf will remain difficult, lowering the prospect of loadings of fresh DAP/MAP vessels in the short term. Freight market participants are also choosing to remain cautious about the announcement that a deal had been reached, preferring to seek clearer assurances on the safety of ships transiting through the strait first, they told Argus today. Israel's military operations in southern Lebanon, the cessation of which is a condition to peace repeatedly iterated by Iran, remain a potential barrier to any deal. In an interview with Iranian state-linked Fars News, the maintenance of a traffic toll exercised by Iran and Oman over the strait was re-emphasised. This could complicate negotiations for a durable reopening of the waterway. By Adrien Seewald Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Hormuz tanker traffic unchanged after US‑Iran deal

15/06/26

Hormuz tanker traffic unchanged after US‑Iran deal

London, 15 June (Argus) — Vessel traffic through the strait of Hormuz has not changed since Sunday's announcement of a US-Iran peace deal , based on AIS tracking data. This suggests shipowners are waiting for the planned signing on 19 June and further details before attempting transits. The Indian LNG tanker Disha passed through without incident near Iran's Larak island. But the transit was likely pre-arranged and not the result of the newly announced deal. Several smaller vessels also transited, in line with recent traffic levels. There were no significant movements of crude or product tankers overnight. US president Donald Trump said on 14 June that he has authorised the "toll-free" reopening of the strait. But Iranian officials have yet to confirm that vessels can transit without restrictions. Transits continue to use shipping lanes near Iran's Larak and Qeshm islands rather than the traditional central route, reflecting ongoing safety risks in the strait. "The threat of mines in the area remains a concern immediately as well as further down the line, and mine-free routes need to be established," said Jakob Larsen, chief safety and security officer at industry association Bimco. "We still consider it very risky to commence transits at this point," Larsen added. Floating mines pose a significant risk and are likely to result in restrictions from marine insurers on which routes are covered. UK prime minister Keir Starmer said the UK will continue to work with partners to support reopening of the strait, including through a defensive, independent multilateral mission led by the UK and France, particularly to support mine clearance operations. Uncertainty over access to the waterway remains. Trump has a history of overstating progress in reopening the strait of Hormuz, through which about a fifth of global oil flowed before the Iran war. He wrongly claimed in April the strait was "completely open", prompting a buildup of crude and product tankers before many were turned back. The deal is set to be signed on 19 June, which participants said could be a trigger for any broader rebound in vessel traffic. More than 500 ships remain in the Mideast Gulf, and Bimco estimates it could take several weeks for all to leave, particularly as most will need to use restricted routes until mine clearance operations are completed. By John Ollett Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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