California:
The 16-20-0 market remained at $366/st rail-DEL in California, with FOB pricing reported in the $366-$373/st range, depending on location.
Pacific Northwest:
The 16-20-0 market was steady at $350/st FOB Aurora, Ore.; $353/st DEL in Washington, Oregon, and Nevada; and $340/st DEL in Idaho, Utah, and Montana.
OCI NV, Amsterdam, announced on Nov. 25 that it has appointed Ahmed El-Hoshy as the new Group Chief Operating Officer (COO), with immediate effect. In this new global role, he will oversee all commercial, operational, and other business activities, reporting to OCI NV CEO Nassef Sawiris.
El-Hoshy has been with OCI for ten years. He is currently CEO of OCI Americas, heading all investments, operations, and activities in the Americas, and is expanding those responsibilities to Europe.
“With this appointment, jointly with our earlier appointment of Haroon Rahmathulla as COO for our new Fertiglobe joint venture, we are well-positioned to focus on operational and commercial excellence across our platform, in order to deliver on our growth and free cash flow generation,” said Sawiris.
Petróleo Brasileiro SA (Petrobras), Rio de Janeiro, has terminated negotiations with Russia’s Acron Group without a deal being concluded for the sale of its 100 percent stakes in the nitrogen fertilizer plant Araucária Nitrogenados SA (ANSA) in Paraná state, and the still-to-be completed Unidade de Fertilizantes Nitrogenados III (UFN-III) nitrogen fertilizer plant at Três Lagoas in Mato Grosso do Sul state, Petrobras said in a Nov. 26 statement.
For some months now, Acron has been seen as the likely buyer of the UFN-III assets, and last year was reported to be in exclusive negotiations with Petrobras for both UFN-III and ANSA, which originally were being offered for sale as a package (GM May 11, 2018).
As recently as this past July, an August signing of a sale-and-purchase deal between the two companies for UFN-III was anticipated, according to sources cited by Brazilian financial newspaper Valor Econômico (GM July 26, p. 26).
For its part, Acron had never confirmed publicly its interest in the Petrobras fertilizer assets (GM Nov. 22, p. 1).
Just last week, a Petrobras spokesperson told Green Markets that the process for the sale of the UFN-III and ANSA assets was still underway, but declined to comment further (GM Nov. 22, p. 29).
In this week’s statement, the Brazilian oil and gas group said “it remains with its strategic position to fully exit the fertilizer business, aiming at optimizing its portfolio and improving the company’s capital allocation…”
Petrobras on Nov. 21 announced that it had leased its idled Bahia (Fafen-BA) and Sergipe (Fafen-SE) nitrogen plants to Brazil’s Proquigel Química SA for a period of ten years, with an option to renew for a further ten-year period (GM Nov. 22, p. 1).
PhosAgro, Moscow, reported a 25 percent increase in third-quarter net income to RUB9.76 billion on revenues of RUB64.55 billion ($1.0 billion), up from the year-ago RUB7.8 billion and RUB62.68 billion, respectively. However, net income adjusted for non-cash foreign exchange items fell by 8 percent, to RUB11.8 billion ($183 million) versus the prior-year’s RUB12.86 billion.
Third-quarter EBITDA was 9 percent off at RUB21.3 billion ($330 million), down from year-ago RUB23.39 billion, which the group attributed to a correction in global fertilizer prices.
“Despite a decrease in average fertilizer prices in the third quarter, our EBITDA margin of 33 percent was one of the highest in the sector [3Q 2018: 37 percent]. We were able to achieve this thanks to the completion of upgrades to a number of production facilities at the end of last year and higher levels of self-sufficiency in key inputs,” said PhosAgro CEO Andrey Guryev.
“Our decision to postpone a significant part of planned overhauls until the fourth quarter…made it possible to take advantage of solid demand in our priority markets and to significantly ramp up production,” he said. “Overhauls in the fourth quarter will not affect our sales on account of the traditional decrease in fertilizer demand in the period.”
PhosAgro’s results for the third quarter were better than analysts were expecting due to a decrease in the cost of sales of DAP because of self-sufficiency for certain raw materials and decreased prices for third-party products, as well as increased sales volumes, Bloomberg reported. The EBITDA result beat the average analyst estimate of RUB20.41 billion (Interfax, average of four estimates), as did the adjusted net income (estimate RUB10.81 billion, based on three estimates) and revenue (estimate RUB62.63 billion), Bloomberg reported.
Third-quarter revenues were up 3 percent, mainly driven by higher sales to Europe, Latin America, and Asia. However, the group noted that growth was mitigated by the correction in global fertilizer prices, as well as the appreciation of the ruble.
Phosphate-based fertilizers sale revenues showed a marginal 1 percent uptick to RUB44.2 billion in the third quarter versus a year-ago, which the group attributed to a faster rise in revenue from the sale of NPK(S) grades – up near 8 percent year-over-year. However, third-quarter gross profit for the phosphates business segment was 5 percent off at RUB23.8 billion ($368 million) due to the lower global prices. Phosphate fertilizer sales volumes increased 12 percent to 1.96 million mt, up from 1.74 million mt a year-ago. Exports were up 24 percent, to 1.07 million mt versus the year-ago 890,000 mt.
Nitrogen fertilizer sales revenues increased 7 percent to RUB9.2 billion, primarily driven by an increase in the sale of urea and ammonium nitrate to Latin American markets. Nitrogen’s third-quarter gross profit came in 8 percent higher year-over-year, reaching RUB5.4 billion ($83 million). Nitrogen fertilizer sales volumes were up 12 percent year-over-year at 512,000 mt, up from 458 million mt. Exports were 14 percent higher, at 495,000 mt, compared with the year-ago 435,000 mt.
For the nine months, PhosAgro reported a more than doubling in net income to RUB42.71 billion on revenues of RUB194.98 ($3.0 billion), up from the year-ago RUB17.63 billion and RUB173.76 billion, respectively. However, nine-month net income adjusted for non-cash foreign exchange items increased just 12 percent, to RUB34.53 billion against the year-ago RUB30.84 billion. Nine-month revenues were up 12 percent.
Nine-month EBITDA came in 14 percent higher year-over-year at RUB64.4 billion ($989 million), up from RUB56.35 billion.
Guryev expects to see continued pressure on the price of phosphate-based fertilizers during the fourth quarter due to the off-season in the group’s key markets, combined with high stockpiles in India and the U.S. Moreover, he sees excess supply persisting in the global market until next spring, despite a decrease in production in the U.S. and China.
For urea markets, the PhosAgro CEO warned that “a slow resumption” of seasonal demand in key urea markets, coupled with “considerable” supply of Chinese product, could continue to curb prices.
Revenue by Key Products (RUB million)
| 3Q-2019 | 3Q-2019 | % Change | 9M-2019 | 9M-2018 | % Change | |
| Total Revenue | 64,550 | 62,684 | +3% | 194,983 | 173,761 | +12% |
| DAP/MAP | 21,174 | 21,046 | +0.6% | 64,109 | 58,560 | +10% |
| NPK(S) | 19,782 | 18,381 | +8% | 55,044 | 46,926 | +17% |
| PhosRock | 6,107 | 5,435 | +12% | 19,207 | 15,789 | +22% |
| MCP | 2,260 | 2,751 | -18% | 7,993 | 7,678 | +4% |
| Other Phosphate-Based Products | 1,388 | 1,792 | -23% | 5,037 | 4,696 | +7% |
| Nitrogen Fertilizers | 9,172 | 8,584 | +7% | 28,968 | 26,777 | +8% |
Petróleo Brasileiro SA (Petrobras), Rio de Janeiro, has provided clarification on the lease agreements inked with Brazil’s Proquigel Química SA late last week for its idled Bahia (Fafen-BA) and Sergipe (Fafen-SE) nitrogen plants (GM Nov. 22, p. 1).
“The R$177 million cited in our Nov. 21 media statement regarding the lease agreements refers to the total amount of the contract, which will be divided and paid in monthly installments re-adjusted annually, for a period of ten years,” a Petrobras spokesperson told Green Markets. “If the parties involved agree, the contract may be renewed for another ten years.”
OCP SA, Casablanca, reported a 5 percent fall in third-quarter EBITDA to MAD4.6 billion ($478 million) on revenues of MAD14.87 billion ($1.55 billion), down from the year-ago MAD4.82 billion ($511 million) and MAD14.5 billion ($1.54 billion), respectively.
Third-quarter operating profit came in 16 percent off at MAD2.79 billion ($291 million), versus the same previous year quarter’s MAD3.34 billion ($355 million).
Revenues were up by nearly 3 percent, driven by increased fertilizer exports, the company said.
For the nine months to Sept. 30, OCP reported a 2 percent increase in EBITDA to MAD13.08 billion ($1.36 billion) on revenues of MAD42.45 billion ($4.42 billion), up from the previous year’s MAD12.83 billion ($1.37 billion) and MAD41.1 billion ($4.4 billion), respectively.
Nine-month operating profit came in 11 percent lower, at MAD6.62 billion ($689 million), down from MAD7.45 billion ($797 million), with the company citing mainly higher depreciation costs linked to new investments coming online.
Nine-month revenues increased by 3 percent in local currency, driven mainly by strong phosphoric acid sales, the company said. Phosphoric acid revenues increased 17 percent year-over-year in local currency, while fertilizer and rock sales remained broadly stable compared to a year-ago.
The company noted that rock revenues benefited from slightly improved pricing during the nine-month period, resulting from the product mix. However, it said this impact was largely offset by lower export volumes, due in part to non-integrated fertilizer capacity closures in North America.
Nine-month rock sales volumes totaled 741,000 mt, down almost 5 percent from the year-ago 778,000 mt.
Strong sales volumes were the primary drivers of higher phosphoric acid and fertilizer exports, which the company said largely compensated for lower acid prices and partially mitigated the effect of year-over-year decline in DAP prices.
Exports of acid were supported by demand in Asia, which imported less finished products during the third quarter. Nine-month acid sales amounted to 797,000 mt, marking a 13 percent increase on the year-ago 703,000 mt.
OCP highlighted its fertilizer exports increased across several regions in the nine-month period, led by growth in exports to Latin America (+0.6 million mt) and Europe (+0.4 million mt). It noted that the European increase was due in part to demand recovery from the last two years on the back of improved weather conditions. For Latin America, it noted that demand was mainly prompted by low inventories in Brazil.
The company also highlighted its strong market position in Africa, which accounted for 21 percent of OCP’s exports in the first nine months of this year. It said the continent represents the largest consumer of the company’s specialty product volumes.
Nine-month fertilizer sales volumes totaled 2.43 million mt, marking a marginal downtick on the year-ago’s 2.455 million mt. Fertilizer sales accounted for 55 percent of the company’s total nine-month revenues.
OCP Chairman and CEO Mostafa Terrab expects market conditions during the final quarter of the year to be similar to those seen in the third quarter, with soft selling prices tied to lower raw material costs and high inventories in certain regions offsetting demand growth in others. However, he is more upbeat for 2020.
“2020 should have improved market conditions starting in the second quarter, driven by better crop fundamentals and an uptick in demand,” he said. “Specifically, demand is anticipated to be stronger in Africa, where OCP has consolidated its position. Additionally, inventories in the U.S. and India are expected to be drawn down, and demand in Brazil and Europe should remain strong.”
On the supply side, the chief executive believes the position should remain “relatively stable,” with limited capacity ramp-ups. At the same time, he expects raw material costs to be “stable-to-soft” in 2020 as additional capacities come on-line.
Capital expenditures reached MAD8.51 billion ($886 million) in the nine-month period, up from the year-ago MAD7.2 billion ($771 million).
The Teamsters Canada Rail Conference union said on Nov. 26 it reached a tentative deal with Canadian National Railway Co. and that it would end its strike, with normal operations resuming Wednesday, Nov. 27, at 6 a.m. Some 3,200 conductors and railyard workers walked off the job on Nov. 19 (GM Nov. 22, p. 1), prompting many to call for Prime Minister Justin Trudeau to call Parliament back in session to end the strike.
“Previous governments routinely violated workers’ right to strike when it came to the rail industry,” said Teamsters Canada President François Laporte on Nov. 26. “This government remained calm and focused on helping parties reach an agreement, and it worked.”
“CN is preparing to resume full rail operations as soon as possible,” said CN Rail CEO Jean-Jacques Ruest. “I would also like to personally thank our employees who kept the railroad moving safely.”
The Teamsters/CN deal must still be ratified by union membership via a secret-ballot electronic voting system that could still take eight weeks to conclude.
The eight-day strike halted shipments of oil, propane, grain, potash, and other products across Canada and threatened to take a multi-billion dollar bite out of the economy, reported Bloomberg, which noted that Montreal-based CN Rail carries about C$250 billion ($189 billion) worth of goods annually. Farmers in Quebec and Ontario faced the prospect of letting their crops rot in the fields, as the strike stalled shipments of propane used for drying.
The nation’s gross domestic product was estimated to have lost as much as C$2.2 billion ($1.65 billion) if the deadlock lasted until Nov. 30, economists at Toronto-Dominion Bank predicted.
“The CN strike up here is causing some very quick headaches,” a Western Canada retail source told Green Markets just prior to the strike’s end. “Propane outages are happening in eastern Canada. All northbound shipments of fertilizer from the U.S. have been halted. Grain elevators are full, waiting on service to continue receiving grain from farmers. If this strike continues on for another week or more, the impacts of shipping product during cold winter months will only make things worse.”
Despite the end of the strike, Saskatoon-based Nutrien Ltd. said on Nov. 26 that it would continue with plans announced on Nov. 25 for a two-week shutdown at its giant Rocanville potash mine, starting on Dec. 2. Nutrien will be laying off some 550 of Rocanville’s 600 employees.
“The altered shipping patterns resulted in the site reaching containment and will still require the two-week downtime to get inventories balanced,” Nutrien spokesman Will Tigley told Bloomberg. “Despite our best efforts to manage through the disruption, the strike created significant backlog in our supply chain and resulted in lost export capacity that cannot be immediately recovered.”
Nutrien had already cautioned that the closure would have a greater impact on international customers than those in North America, saying it was well positioned in the domestic market with its extensive warehouse and terminal system and saw no risk unless the strike was for a prolonged period.
The shutdown equates to about 250,000 mt of potash production, according to Alexis Maxwell, Research Director for Bloomberg Green Markets. Global potash markets have been weak this year, which has already prompted Nutrien and other producers (The Mosaic Co., K+S. Group, Israel Chemicals Ltd., Uralkali, and Belaruskali) to curtail production, with estimates of over 3 million mt idled in second-half 2019 (GM Oct. 11, p. 1; Nov. 15, p. 27).
As the strike continued, furloughs loomed at other employers across Canada, with The Chemical Industry Association of Canada predicting more companies would soon be shutting down operations and laying off workers.
Johannesburg-based Sasol Ltd. on Nov. 25 warned that its headline earnings per share (HEPS) for the fiscal half-year ending Dec. 31, 2019, are expected to decline by at least 20 percent, or R4.65 per share, compared to the HEPS of R23.25 reported for the same prior-year period.
Earnings per share (EPS) are also expected to fall by at least 20 percent, or R4.78 per share, versus the EPS of R23.92 reported for the same year-ago period. However, the trading statement warning did not stop there. Sasol said its results for the six months to Dec. 31 “may be further affected by adjustments resulting from its [FY] half year-end closures,” and “this may result in a change in the estimated earnings noted above.” It said the Nov. 25 trading statement only deals with the comparison to the prior-year period.
The possibility of more adjustments relating to Sasol’s massive Lake Charles Chemicals Project (LCCP) in Louisiana no doubt loom large in the minds of investors. Sasol took a serious impairment hit related to the project in its last full fiscal year, ended June 30, 2019. LCCP, which is to include an ethane cracker and ethylene production, has suffered serial delays and massive cost overruns.
The company reported a 45 percent drop in EBIT to R9.7 billion for the 12 months ending June 30, 2019, down from the year-ago R17.75 billion (GM Nov. 1, p. 28).
Final commissioning of LCCP is currently anticipated in the third quarter of next year.
OCI NV, Amsterdam, remained in the negative column during the third quarter, reporting a net loss attributable to shareholders of $182.5 million, and deepening the net loss of a year-ago of $15.0 million. Revenues were down 18 percent, at $633.9 million from $773.5 million a year-ago. EBITDA came in 50 percent lower at $105.8 million against the previous year’s $213.1 million, while adjusted EBITDA was 53 percent off at $107.2 million, down from $229.9 million.
The company cited lower production resulting from planned turnarounds and debottlenecking at 11 plants across four nitrogen production sites, together with lower methanol and ammonia prices, as the primary drivers behind the downturn in quarterly EBITDA compared with a year-ago. The results were also adversely impacted by an unplanned shutdown at OCI’s Natgasoline methanol plant in Beaumont, Texas, from August to the beginning of November. That shutdown, caused by damage to a waste heat boiler, is covered by insurance.
The lower EBITDA, coupled with accelerated depreciation at the Iowa Fertilizer Co. (IFCo) nitrogen plant in Wever, as well as non-cash foreign exchange losses and a pre-insurance loss at Natgasoline due to the shutdown, were the main factors behind the deeper adjusted net loss for the quarter versus a year-ago, the company said.
Third-quarter OCI-produced volumes sold decreased 5 percent, to 2.2 million mt from the year-ago 2.3 million mt. Own-produced fertilizer sales were 13 percent lower at 1.61 million mt, down from 1.84 million mt in the same prior-year period.
Lower sales volumes were recorded across all the main own-produced fertilizer products. But the biggest decrease was seen in CAN volumes, down 36 percent compared with third-quarter 2019. The company cited “a record second quarter,” which resulted in a 9 percent higher level of sold CAN volumes in the first nine months of the year versus a year-ago.
Sales of third-party traded products amounted to 433,200 mt in the third quarter, marginally lower than a year-ago.
OCI highlighted the strengthening of its competitive position in the nitrogen sector following the completion of the Fertiglobe joint venture with Abu Dhabi National Oil Co. (ADNOC) on Sept. 30, which has seen the combination of ADNOC’s fertilizer business into OCI’s Middle East and North Africa (MENA) nitrogen fertilizer platform (GM Oct. 4. p.1).
According to the two parties, Fertiglobe will be the largest export-focused nitrogen fertilizer platform globally, and the largest producer in the MENA region, with a production capacity of 5 million mt/y of urea and 1.5 million mt/y of merchant ammonia. OCI said the consolidation has resulted in the addition of 2.1 million mt/y capacity to its platform, and is expected to generate substantial synergies.
OCI said IFCo finalized a four-week debottlenecking project in early August, following which it has increased its operating rates further and achieved better cost efficiency. Since the facility restarted, the plants have been running at high and stable levels, with the ammonia and urea synthesis plants setting new production records at 116 percent and 118 percent of nameplate capacity, respectively.
It noted that despite the turnaround at IFCo, Diesel Exhaust Fluid (DEF) and UAN volumes were up, partly due to a longer-than-usual season in the U.S.
At Sorfert in Algeria, following a turnaround at one of the ammonia lines in the first quarter, the other ammonia line was shut down for a turnaround from June until August. In Egypt, one of EFC’s urea lines was shut down for a turnaround during the quarter. OCI Nitrogen’s melamine and CAN lines in the Netherlands were shut down for turnaround during June and July.
Despite the turnarounds, OCI reported that the adjusted EBITDA of the U.S. and Europe nitrogen segments improved in the third quarter of 2019 compared to a year-ago. Nitrogen U.S. posted a third-quarter adjusted EBITDA of $31.5 million, up from the prior-year quarter’s $30.4 million, while Nitrogen Europe reported an adjusted EBITDA of $31.2 million for the quarter versus the year-ago $25.2 million.
However, the third-quarter adjusted EBITDA of the Nitrogen MENA segment was sharply lower than a year ago – down 40 percent, at $77.4 million from $128.0 million – with the company citing the turnarounds there, as well as the lower ammonia prices behind the downturn.
Regarding its methanol business, despite the unplanned outage at Natgasoline, OCI reported that its own-produced methanol sales volumes improved 25 percent during the third quarter, totaling 428,400 mt, up from the year-ago 343,700 mt.
Increases in sales volumes were primarily driven by higher volumes at Natgasoline, which were still fully reflected in July volumes as well as BioMCN’s second line, which started up during the third quarter and reached stable operating rates towards the end of August. Additionally, there was also full production from BioMCN’s first line during the third quarter, versus a planned turnaround during the third quarter of last year.
As a result of lower methanol selling prices in the third quarter and the Natgasoline shutdown, third-quarter adjusted EBITDA for the Methanol U.S. segment came in well below third-quarter 2018, at just $2.6 million versus the year-ago $66.1 million.
OCI noted that it has received an initial insurance payment of $30 million for the unplanned shutdown at Natgasoline, which it said will be reflected in its fourth-quarter results.
For the nine months to Sept. 30, OCI reported a net loss attributable to shareholders of $243.8 million, significantly widening the year-ago $30.0 million net loss. Revenues were down 6 percent, at $2.18 billion from $2.31 billion. EBITDA came in 34 percent lower from a year-ago at $449.6 million, down from $680.4 million, while nine-month adjusted EBITDA was 23 percent off at $511.6 million, down from $668.5 million.
OCI said the completion and successful start-up of the second methanol production line at its BioMCN facility during the third quarter marked the completion of the company’s growth capex program. For the remainder of 2019 and in 2020, the company said it will benefit from a ramp-up in volumes, also reflecting this year’s turnarounds and debottlenecking program.
“With the completion of our capital expenditure program and the concentration of turnarounds and debottlenecking projects at four of our nitrogen sites during the third quarter, together with the consolidation of the Fertiglobe joint venture, we expect to benefit from a significant increase in sales volumes in the fourth quarter and beyond,” said OCI NV CEO Nassef Sawiris.
For its nitrogen business, the company expects higher sales volumes as a result of “a significantly lighter” program of planned turnarounds in 2020 than this year, and expects the biggest increases in volumes next year to come from its lowest-cost plants, Sorfert in Algeria and IFCo in the U.S.
OCI reported its global nitrogen order book is currently “robust,” based on recent tenders awarded to Fertiglobe to supply a combined total of almost 700,000 mt to India and the Ethiopian market.
It also expects IFCo to benefit from a positive outlook for DEF, following a doubling in volumes in 2019 compared with the prior year, and sees further strong growth in 2020 for this product.
In methanol, OCI said it expects to see a significant increase in its methanol volumes next year as a result of 2020 being the first full year of new methanol capacities, namely Natgasoline, BioMCN’s second line, and the OCI Beaumont, Texas, plant debottlenecking finalized in July this year. Volumes will also be boosted due to the normalization of production following this year’s shutdowns.
Sawiris also expects the company to continue to benefit from low natural gas prices in both Europe and the U.S., maintaining OCI’s position at the low end of the global cost curve. He noted that the company has yet to get the full advantage of the lower gas prices because of the three-month hedge that expired during the third quarter, but expects the company to benefit fully from the low gas price environment from the fourth quarter onwards.
He sees European gas prices remaining within “a core bandwidth” of $3-$5 per MMBtu, barring any surprise weather shocks, as a result of the increased Atlantic basin LNG exports competing with Russian imports into Europe. In the U.S., with Henry Hub benchmark prices significantly below the levels of last year at global competitive prices, he believes the forward curve suggests this will remain for the foreseeable future, enabling the company to keep its U.S. operations on “the left-hand side” of the global cost curve.
Nitrogen Segment: Selected Financials
| Nitrogen ($/M) | Total Revenues | Operating Profit | Adjusted EBITDA |
| 3Q-2019 | |||
| U.S. | 104.8 | (20.4) | 31.5 |
| Europe | 151.4 | 13.9 | 31.2 |
| MENA | 210.8 | 38.5 | 77.4 |
| 3Q-2018 | |||
| U.S. | 111.6 | (5.2) | 30.4 |
| Europe | 214.9 | 7.7 | 25.2 |
| MENA | 268.3 | 88.8 | 128.0 |
| 9M-2019 | |||
| U.S. | 407.0 | 40.5 | 158.7 |
| Europe | 617.4 | 58.0 | 111.1 |
| MENA | 622.2 | 118.1 | 244.3 |
| 9M-2018 | |||
| U.S. | 341.4 | 8.5 | 96.7 |
| Europe | 651.5 | 28.7 | 76.4 |
| MENA | 812.5 | 265.7 | 360.2 |
Product Sale Volumes (‘000 mt)
| 3Q-2019 | 3Q-2018 | % change | 9M-2019 | 9M-2018 | % change | |
| Own Product | ||||||
| Ammonia | 457.2 | 500.9 | -9% | 1,416.8 | 1,562.4 | -9% |
| Urea | 618.2 | 740.0 | -16% | 1,923.6 | 2,211.4 | -13% |
| CAN | 155.3 | 243.5 | -36% | 882.1 | 810.3 | +9% |
| UAN | 379.3 | 359.6 | +5% | 1,078.4 | 1,078.7 | – |
| Total Fertilizer | 1,610.1 | 1,844.0 | -13% | 5,300.9 | 5,657.8 | -6% |
| Methanol1 | 428.4 | 343.7 | +25% | 1,222.5 | 993.8 | +23% |
| Melamine | 28.5 | 36.9 | -23% | 96.6 | 106.6 | -9% |
| DEF | 130.6 | 77.8 | +68% | 356.5 | 178.2 | +100% |
| Total Industrial Chemicals | 587.5 | 458.4 | +28% | 1,675.6 | 1,278.6 | +31% |
| Total Own Product Sold | 2,197.6 | 2,302.4 | -5% | 6,976.5 | 6,936.4 | +1% |
| Traded Third Party | ||||||
| Ammonia | 29.8 | 128.6 | -77% | 142.2 | 274.1 | -48% |
| Urea | 78.2 | 70.7 | +11% | 264.4 | 199.7 | +32% |
| UAN | 10.1 | 17.7 | -43% | 20.3 | 65.7 | -69% |
| Methanol | 150.2 | 81.9 | +84% | 397.8 | 166.4 | +139% |
| AS | 139.1 | 135.5 | -7% | 518.1 | 458.0 | +10% |
| DEF | 25.7 | – | nm | 54.3 | – | nm |
| Total Traded | 433.2 | 434.4 | -3% | 1,397.1 | 1,163.9 | +19% |
| Total – All | 2,630.8 | 2,736.8 | -4% | 8,373.6 | 8,100.3 | +3% |
1 Including OCI’s 50 percent share of Natgasoline volumes
Compass Minerals, Overland Park, Kan., added Mary Frontczak as its new Chief Legal Officer and Corporate Secretary earlier this month. Compass said she will be a critical member of the senior management team and will be responsible for corporate governance, SEC reporting, litigation oversight, environmental matters, corporate compliance, intellectual property, and labor and employment law, among other areas.
She joins Compass Minerals from POET, the world’s largest biofuels producer, where she served as Senior Vice President and General Counsel.
Frontczak earned a B.A. from Saint Louis University, a Juris Doctor from Saint Louis University School of Law, and an MBA from Olin Business School at Washington University in St. Louis.
Logan Bateman recently joined the company as Vice President, Human Resources, North America Operations and Labor Relations. The company said he has a decade of experience leading all facets of human resources within the mining industry. Most recently, he served as Vice President, Human Resources at Contura Energy in Bristol, Tenn.
He received his B.S. in marketing and human resources management from Virginia Tech.
