CHS Inc. posted a net loss of $38.2 million for the second-quarter ending Feb. 28, 2021 versus year-ago net income of $125.4 million. Significant year-over-year earnings increases in Ag and Nitrogen Production segments and Corporate and Other businesses were offset primarily by ongoing COVID-19 pandemic-related impacts in Energy.
All posts by Steve Seay
New Indian Potash Price Reported
Belarus Potash Co. (BPC) announced earlier today it and Indian Potash Ltd. (IPL) have agreed a new contract price of $280/mt CFR (with 180 days’ credit) for potash deliveries to India.
The new price marks a $33/mt increase on the contract price of $247/mt agreed by the two companies in late January for their new annual supply contract, under which BPC would deliver 800,000 mt of potash. The new price was negotiated in “the framework of close partnership”, BPC said in a statement.
ICL today also announced it has signed a new annual contract with IPL to supply an aggregate 600,000 mt of potash, with mutual options for an additional 50,000 mt, to be supplied through December 2021. The Israeli supplier said the agreed price is $280/mt CIFFO Indian ports, and is part of the five-year supply agreements signed in December 2018 between ICL and IPL.
Ship Freed, Canal to Re-Open
The giant Ever Given container ship was finally pulled free from the bank of the Suez Canal, allowing for a massive tail back of ships to start navigating once again through one of the world’s most important trade routes, Bloomberg reports. Almost a week after it was stranded across the critical waterway, snarling global trade that was already under strain, salvage teams pulled the ship free from the sandy bank with tugs. While the canal authority said navigation would resume, without setting a time, container shipping company Hapag-Lloyd AG expects transit through the waterway to start Monday evening, and the backlog of vessels to be cleared within four days.
NOLA Sees AA, Urea Price Surge
NOLA anhydrous ammonia barges moved up today to $545/st FOB from $500/st FOB, while granular urea, after having drifted lower, moved back over the $400/st FOB mark. Sources said ammonia supplies have been depleted and there were fears that urea import vessels were delayed.
IOC Raises AS, ATS Postings
Interoceanic (IOC) on March 24 announced another price increase for PCI Nitrogen’s granular ammonium sulfate, effective immediately. New prices include $275/st FOB NOLA barge; $295/st FOB St. Louis, Mo., and Delta terminals; $300/st FOB Upper Mississippi, Illinois, and Ohio River terminals; $275/st FOB Houston, Texas; $310/st FOB Sioux City, Iowa, $315/st rail-DEL in the Southern Plains; and $325/st rail-DEL in the Northern Plains.
IOC also reposted ammonium thiosulfate on March 24 at $265/st FOB Houston and $320/st FOB Ohio River terminals.
RCF Release Urea Tender Prices
Prices in the RCF tender were released, showing a $95/mt jump in prices since the last tender in December 2020. The lowest price for West Coast delivery came from Agrifert Liven at $380.18/mt CFR. The low price for the East Coast came from Koch at $379.87/mt CFR. The buyer also accepted an offer from Fertiglobe at $368/mt FOB. At a minimum RCF will get 145,000 mt from these accepted offers. Talks with other offering companies have started.
Transhydrogen Alliance Formed
Dubai-based Trammo DMCC, a subsidiary of Trammo Inc., Proton Ventures BV, an engineering and development company in the Netherlands and VARO, an European mid- and downstream energy company, have signed a Memorandum of Understanding for a joint initiative and mutual cooperation on the production and import of green hydrogen and green ammonia into Europe via Rotterdam, as well as export thereof from selected locations worldwide. The consortium — Transhydrogen Alliance, intends to start its collaboration with an initial project for the production of green hydrogen produced from solar and wind rich areas and the import of such hydrogen in the form of green ammonia into Europe. The initial project is expected to be completed by 2024.
Transhydrogen Alliance Formed
Dubai-based Trammo DMCC, a subsidiary of Trammo Inc., Proton Ventures BV, an engineering and development company in the Netherlands and VARO, an European mid- and downstream energy company, have signed a Memorandum of Understanding for a joint initiative and mutual cooperation on the production and import of green hydrogen and green ammonia into Europe via Rotterdam, as well as export thereof from selected locations worldwide. The consortium — Transhydrogen Alliance, intends to start its collaboration with an initial project for the production of green hydrogen produced from solar and wind rich areas and the import of such hydrogen in the form of green ammonia into Europe. The initial project is expected to be completed by 2024.
Compass to Sell Brazil Unit to ICL
Compass Minerals, Overland Park, Kan., has entered into a definitive agreement to divest its South America Plant Nutrition business to ICL Brasil Ltda., a subsidiary of ICL Group (ICL).
Tampa Ammonia Up $100/mt
Tampa ammonia has traded at $545/mt CFR, up $100/mt from the March $445/mt CFR.