Five companies, all offering Iranian urea, were issued awards by MMTC Aug. 8. The buying house took 420,000 mt for West Coast delivery at $274.80/mt CFR and 292,000 mt for East Coast delivery at $278.95/mt CFR.
One 50,000 mt cargo, from Midgulf is Iranian urea that was shipped to China in July for re-export to Southeast Asian markets.
Industry sources were unclear how India would handle payment for the material awarded considering the U.S. sanctions against Iran. Iranian urea was specifically mentioned as being affected by the sanctions.
See the Aug. 10 issue of Green Markets for more information and analysis of the tender.
The Andersons Inc., Maumee, Ohio, reported second-quarter net income of $21.5 million ($0.76 per diluted share), up from the year-ago net loss of $26.7 million ($0.94 per share). The company reported significantly better results in the Grain and Ethanol units, however, Plant Nutrient and Rail results were lower than year-ago levels. Sales volumes of primary and specialty nutrients were reported to be strong, but margins were pressured. Lawn and contract manufacturing, however, were bright spots for the segment.
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