Intrepid Potash Inc., Denver, reported
fourth-quarter net income of $2.1 million on sales of $48.8 million, down from
the year-ago $7.6 million and $54.4 million, respectively, while full-year
income was up at $13.6 million on sales of $220.1 million from 2018’s $11.8
million and $208.3 million, respectively.
Intrepid is upbeat about 2020 citing the
under application of potash during recent seasons, expectations of increased
corn planting as well as a new Chinese potash contract in the second quarter.
MOPCO closed a sale of 8,000 mt at
$255/mt FOB for April shipment. The last bit of business done by Egyptian
producers was late last week at $250-$251/mt FOB, also for early April
shipment.
The deal occurred just as SABIC also
reported a sale at $250/mt FOB for delivery to Australia. This deal is $5 up
from last week’s business.
Canadian and B.C. officials stuck a tentative deal with the Wet’suwet’en Chiefs March 1 which will allow the construction to resume on GasLink natural gas pipeline. However, at least one Indigenous group—the Mohawk Nation of Kahnewake, had vowed to continue blockades at least for now, south of Montreal, according to the Canadian press.
The
Mosaic Co. Tampa, announced March 2 its intent to combine the company’s potash
and phosphates operations under one management team, effective April 1, 2020.
This move is expected to create new opportunities to increase efficiencies by
leveraging the synergies between the two organizations.
Bruce
Bodine, currently Senior Vice President, Phosphates, will lead the combined
business from Tampa. Karen Swager, currently Senior Vice President, Potash,
will step into a new role leading Mosaic’s North America supply chain,
procurement and corporate environmental, health and safety.
The Andersons Inc,
Maumee, Ohio, on Mach 2 announced the passing of Richard P. (Dick)
Anderson, 90, former CEO and Chairman Emeritus of the Board of Directors.
“Dick was a great
friend and mentor to many of us at The Andersons, but especially to me,”
said Mike Anderson, Chairman of the Board for The Andersons. “He
always led by example and was a strong believer in the Golden Rule. His
kindness, positivity and overall love for life was and will continue to be an
inspiration for us all.”
Dick is survived by
his wife and best friend of 65 years, Fran, along with their six children, 24
grandchildren and several great grandchildren.
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