CHS Inc. has announced plans to build a 26,000 short ton fertilizer hub in Lakota, N.D. Operating as part of the Lake Region Grain unit of the company’s Country Operations division, the new facility will exclusively handle dry fertilizer product and benefit from shuttle train access off the BN rail line.
Construction is expected to begin May 1, 2014, and the plant ready to fill with product by mid-January 2015. It should be ready to serve area farmers for the spring 2015 season.
"This additional fertilizer capacity will help us ensure a seamless supply for our current patrons and, at the same time enable us to expand our territory and bring quality inputs to new growers," said Mark Greicar, general manager, Lake Region Grain.
“The CHS commitment to producers includes initiatives to reinvest back into our communities," said John McEnroe, executive vice president, CHS Country Operations. "It’s a very tangible way CHS is helping its members grow."
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.
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