A sale of a vessel of ammonia has reportedly been sold at $260/mt FOB out of NOLA to an offshore destination. However, so far, there has been no firm news about Tampa for October. Reportedly, the NOLA deal would equate to $295-$300/mt CFR to Tampa once freight is factored in.
PhosAgro, Moscow, plans to further expand its fertilizer and feed phosphates production capacity by around 25 percent by 2025 to 11.7 million mt, the group said in a statement on its Capital Markets Day today in London.
The building of a new plant in Russia’s Leningrad region with a capacity of 630,000 mt/y, as well as the modernisation of production facilities in the Saratov region, will form an important component of these expansion plans, the company said.
It is also targeting to increase its fertilizer sales to European markets to 3.1 million mt (including third-party products) by 2025, up from 1.9 million mt in 2018. This target will be helped through the competitive advantages afforded the company by the new EU regulations limiting the cadmium content in phosphate-based fertilizers.
The company said it also will expand its range of fertilizer grades from 39 in 2018 to 50 by 2025, including new high-performance grades with bio-additives.
It said it will invest around $3 billion in growth and modernisation by 2025.
PhosAgro’s board has also approved a new dividend policy linked to free cash flow instead of net profit, with the amount varying depending on the company’s debt levels.
