Smart Bulk Terminal (SBT), a joint venture between Russian fertiliser shipper PhosAgro (70%) and Ultramar (30%), has commissioned a new RUB650M (US$15M) fertiliser terminal in the Yug-2 multipurpose complex in Ust-Luga. PhosAgro is one of the world’s largest producers of phosphate-based fertiliser, while Ultramar is Russia’s largest provider of container transport services for mineral products.