Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of two mid-size LPG carriers with an expected cost per vessel of US$51 million. Yara said after an evaluation of current new-build and time charter rates, it has chosen to build new vessels to cover part of its long-term transport requirement at attractive rates, meet stricter environmental regulations and maintain flexibility to serve Yara’s production system.

Yara has a base ammonia transport requirement of approximately 4 million mt/y to serve its European plants and long-term off-take agreements in Trinidad and Australia. Since time-charter contracts require a parent company guarantee of hire payments,Yara says a decision to build rather than charter vessels does not materially impact Yara’s debt capacity.

Yara is in discussions with potential partners for combined ship management and equity participation, however, Yara aims to retain majority ownership in the vessels.

Yara is currently in discussions concerning further shipbuilding contracts for handy-size vessels, which are expected to be finalized and announced in January 2014.

Rentech Nitrogen Partners LP reports that it expects its ammonia plant damaged by fire Nov. 29 to resume production in early January. Rentech says it has completed its evaluation of the equipment damaged in the fire that occurred in the ammonia synthesis loop of the ammonia plant at its East Dubuque, Ill., nitrogen fertilizer facility.

Rentech anticipates the repairs, which are currently underway, to be completed within the next two weeks, with ammonia production of approximately 790 tons per day expected to resume on or before the first week of January 2014. Rentech Nitrogen continues to anticipate ammonia production at the increased rate of approximately 1,020 tons per day by the end of January 2014.

Rentech confirmed its previous estimate of $1-$2 million for the total cost of repairs due to the fire. As previously disclosed, Rentech intends to file a claim related to the incident under its property insurance policy, which has a deductible of $1 million. Based on these schedules for repairs and production, the Rentech currently expects the overwhelming majority of the impact on deliveries of lost production due to the fire to occur in 2013, with minimal impact on previously forecasted deliveries for 2014.

Pinnacle Agriculture Holdings LLC, through its subsidiary Jimmy Sanders Inc., announced that it has purchased the agricultural input retail assets of Arkansas County Cooperative, headquartered in Stuttgart, Ark.

The retail locations acquired by Sanders are in Almyra and DeWitt, Ark., and will be managed by Jim Grantham. Jack Coleman, area operations manager for Sanders, said the farmers served by Arkansas County Co-op can expect a smooth transition.

“We are excited to take on such an important portion of the Arkansas County Co-op business, which will help us continue our expansion in Central Arkansas, providing a complete line of quality farm input products and services to our grower customers,” said Grantham. “We commend Arkansas County Co-op for their service to area growers, and we look forward to continuing this in the future.”

Arkansas County Co-op, which was founded in 1953 by a group of local farmers in Almyra, will continue to operate the fuel and farming hardware portions of their business. “We are excited about the partnership with Sanders and look forward to working together to meet the needs of area growers,” said Chuck Freemyer, manager of Arkansas County Co-op.

The transaction is just the latest in a string of recent retail acquisitions by Pinnacle. Earlier this fall, the company reported that it had acquired Acuff Farm Supply in Lubbock County, Texas, as well as Mathis Farm Supply in Melber, Ky., and the agriculture retail assets associated with Lyons, Ga.-based G and C Fertilizer, dba U.S. #1 Farm Center (GM Nov. 11, p. 1).

Pinnacle, which was founded in 2012 by a management team led by industry veteran Kenny Cordell and financed by Apollo Global Management LLC, formed a strategic partnership with Jimmy Sanders in September 2012 to pursue the development of a national agricultural input distribution network (GM Sept. 17, 2012). Pinnacle says it hopes to become a “best-in-class retail distribution business through acquisitions and ‘greenfield’ retail establishment.”

Apollo is the investment firm that purchased United Agri Products North America in 2003 from ConAgra Foods Inc. (GM Nov. 3, 2003), and then formed UAP Holding Corp, which it sold to Agrium Inc. in 2007 for $2.65 billion (GM Dec. 10, 2007).

Israel Chemicals Ltd. has agreed to freeze planned layoffs at Rotem Amfert and resume negotiations with the Histadrut Labor Federation on a recovery plan for the subsidiary. ICL had announced plans to layoff 127 workers at Rotem Amfert. In exchange for the agreement the Histadrut called off a planned protest meeting by all unions at ICL. Histadrut Chairman Ofer Eini had convinced workers at Dead Sea Works to join the dispute. So far they have stayed clear of taking any action following the announcement last month by ICL management of a restructuring plan.

The change in management’s position followed a lockout at the Rotem Amfert plant in the Negev on Monday when initial dismissal notices were handed out to some of the workers. The following day Rotem Amfert management imposed a lock out. Late Tuesday the Histadrut and ICL management reached agreement on a return to the negotiating table.

ICL management has said that it must cut back costs at Rotem Amfert charging that Morocco is cutting prices in an attempt to drive rivals out of the market. A spokesman for Rotem Amfert said earlier this week that the company is facing its worst crisis in years due to a sharp drop in phosphate and fertilizer prices that have made the company among the least competitive in the industry. The spokesman added that the layoffs are a painful but necessary measure to enable the company to compete on the international market.

The Andersons Inc. reports that it has purchased the assets of the granulation manufacturer Cycle Group Inc.

“This opportunity expands the reach for our Turf & Specialty Group’s granulation business into a strategic geographic location that will help us better serve our customers,” says CEO Mike Anderson. “In addition, we will be increasing our production and distribution capabilities, obtaining intellectual property and expanding our presence in the high-value markets of the granular business.”

The purchase includes a modern facility in Mocksville, N.C., capable of producing 22,000 tons of granulated products with a workforce of 12 employees. In addition, The Andersons will assume and market the Cycle Group’s EcoGranule brand.

“This acquisition supports our growth strategies for our premium granulation business and provides the potential for further product production in the future,” says Tom Waggoner, President, Turf & Specialty Group. “Cycle Group’s reputation for producing a high-quality, patented product in an environmentally safe manner is a good fit for us.”

The management of Rotem Amfert has imposed a lock out on the plant in the Negev following a decision by workers yesterday to intensify sanctions. Management is demanding that the union agree to negotiate efficiency measures at the Israel Chemicals Ltd. subsidiary which is facing sharply declining profitability. Yesterday the workers shut down the plant and prevented shipments as well as management from leaving the premises.

In response to the management move, the Histadrut Labor Federation has ordered all Israel Chemicals workers to stop work on Wednesday at 11:00 a.m. and show up to support Rotem Amfert workers at the plant. Following a meeting today the Histadrut placed two conditions for a resumption of negotiations between the union and management: an end to the lock out and a cancelling of the dismissal notices that have already been given to six of the 127 workers ICL has said it plans to fire as part of its recovery plan for the subsidiary.

Yesterday a company spokesman said Rotem Amfert is facing its worst crisis in years due to a sharp drop in phosphate and fertilizer prices that have made the company among the least competitive in the industry. The spokesman added that the layoffs are a painful but necessary measure to enable the company to compete on the international market.

OAO Uralkali reports that its trading arm Uralkali Trading SA has concluded an agreement with Federal Land Development Authority of Malaysia (FELDA) to create a joint venture for potash distribution. The joint venture will start operating Jan. 1, 2014, and will focus on securing potash deliveries to the plantations of FELDA and other government plantations in Malaysia and other countries.

“This joint venture is another step to further improve our sales net in Southeast Asia, which is a strategically important region for Uralkali,” said Uralkali acting CEO Viktor Belyakov. “It will also strengthen our relations with state customers in this region. Southeast Asian countries pay much attention to expanding agriculture production. Realization of such joint projects is a good opportunity for suppliers and customers to achieve long-term goals including increase in crop yields, ensuring food security and, consequently, growth in fertilizer consumption.”