CF Industries Holdings Inc. said Oct. 29 that its entire Woodward, Okla. nitrogen complex is off-line due to a problem in one of the boilers. CF said all of the plants in the complex were safely shut down with no impact on personnel, the surrounding community or the environment.
CF estimates it will take approximately 6 weeks to return the plant to normal operations. The Woodward complex has average annual production capacity for 480,000 st of gross ammonia, 820,000 st of UAN, and 25,000 st of urea liquor. CF’s sales organization is communicating with customers to work through product availability and delivery schedule implications.
The Mosaic Co. reported third quarter 2014 net earnings of $202 million, up from $124 million a year ago. Earnings per diluted share were $0.54 in the quarter compared to $0.29 last year. Notable items negatively impacted third quarter 2014 net earnings by $11 million, or $0.02 per share. Third quarter 2013 notable items negatively impacted prior year net earnings by $95 million, or $0.22 per share. Mosaic’s net sales in the third quarter of 2014 were $2.3 billion, up from $1.9 billion last year. Gross margin during the quarter was $415 million, up from $387 million a year ago, driven by higher phosphate and potash sales volumes. Operating earnings during the quarter were $277 million, up from $144 million a year ago.
"Mosaic delivered improved year-over-year performance despite weakness in the broader agricultural sector," said Jim Prokopanko, president and CEO. "The improving demand momentum for both potash and phosphates that started in the fourth quarter of 2013 continued. We are on pace to deliver more tons this year than in any of the last five years, and close to the records of 2008."
Rentech Nitrogen Partners LP on Oct. 30 announced that it has signed a long-term agreement with Tessenderlo Kerley Inc. (TKI), the North American subsidiary of Brussels-based Tessenderlo Group, to supply TKI with ammonia produced from its East Dubuque, Illinois facility.
The ammonia will be used by TKI to produce TKI liquid fertilizer Thio-Sul®. TKI will lease property from Rentech Nitrogen adjacent to the East Dubuque fertilizer facility to build a new plant to manufacture the TKI liquid fertilizer Thio-Sul®.
TKI will own, construct, and operate the new production plant. Construction is expected to begin immediately upon receiving approval of necessary permits. When completed, the new plant will enhance TKI’s position as the world’s largest producer of sulfur-based liquid fertilizers.
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