Filter content by area of interest
Handling Equipment/Systems
Ports & Terminals
Transport & Distribution
Materials & Commodities
Storage
Processing
ICT & Telecoms
Civil Engineering
Mining
Environment
Safety & Security
Business
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing this article with our compliments. 


register  or  login  to manage your newsletter preferences and to prevent this message from appearing.

Attack on Saudi Aramco raises fertiliser concerns

The recent drone attacks on Saudi Arabian oil producer Aramco have raised supply concerns in the fertiliser markets, ADM agriculture has warned.

Linked InTwitterFacebookeCard

Along with Iraq and Qatar, Saudi Arabia is one of the largest producers of urea in the Middle East.

 

Gas supply to the SABIC urea plant was restored on Wednesday (18 September), which meant the production of ammonia or fertiliser was not interrupted significantly, but tensions remain and rises in natural gas prices are possible, according to Calum Findlay, ADM Agriculture’s head of fertiliser.

 

“Shipping freight rates have already increased due to higher insurance premiums,” he said. “Further attacks will support the already-firm outlook for nitrogen in Q4.”

 

Meanwhile, the tender from India’s Metals and Minerals Trading Corporation has risen to 950,000t and is open to more if the urea can be sourced. However, Findlay said that FOB levels are flat week on week, suggesting manufacturers are covered for October shipment.

 

“UK nitrogen producer CF is indicating a premium for November delivery at a minimal premium compared with Yara’s £16/t premium,” said Findlay.

 

“UK prices remain below those on the Continent, so an upside risk remains due to minimal stock in the UK, currency swings, and the continuing possibility of tariffs.”

 

Linked InTwitterFacebookeCard

You may also like these related articles...

JV to build ore carrying freight wagons

ABB engine diagnostics for 12 bulk carriers

ERG record for iron ore shipments to China

Stunning comeback for agricultural exports

UWC inks rail car deal with chemicals firm

Small-scale CO2 capture plant on a vessel

Most Read


Mobile harbour crane business


Lumber by rail in Scotland


Ports' global footprint set to grow rapidly


ABP invests £4M in its Newport port


Double first for Liebherr in Argentina

Linked In
Twitter