Tag: Shipping

The start of May saw urea prices start to decline from the yearly highs seen in mid-April, as buyers from India, the US, and Europe stayed away from the markets. India is not expected to return with another tender before late May or early June at the earliest, after booking 2.5 million tonnes for shipment through mid-June, covering immediate requirements, and with domestic production having improved and stocks at a healthy level of over 7 million tonnes. In the US, earlier concerns over May shipments have eased, with net import figures not as low as initially feared, and even some re-export of cargoes to Latin America where higher prices can be earned. With the potential for China to return to export sales towards the end of May and start of June, there was at least a hope that the worst of the current price spike may be over.

ADNOC Gas has outlined a staged recovery plan for its Habshan complex after April attacks and the closure of the Strait of Hormuz, while reporting sharply stronger sulphur earnings on the back of firm prices and resilient output elsewhere in its network.

CRU’s "Energy Shock: Impact on commodity value chains" briefing in London on 14 May is essential for fertiliser, sulphur, nitrogen and syngas professionals seeking practical tools to manage rising cost and supply risk.

We speak with Ilya Motorygin, Managing Partner and Co-founder of GG Trading DMCC.

MB Energy says that it has received approval from the Hamburg Authority for the Environment, Climate, Energy and Agriculture (BUKEA) for the construction and operation of a new ammonia import terminal. Subject to final investment approval, the facility is planned for the Blumensand tank farm site in the Port of Hamburg.

The effective closure of the Straits of Hormuz by Iran in the wake of US and Israeli attacks has sent shockwaves through all markets, but sulphur has been particularly badly affected. While the Straits carry 22% of global phosphate exports and 35% of urea, for sulphur around 45% of the 39 million tonnes transported internationally every year must traverse the narrow waterway, with major suppliers like Abu Dhabi and Saudi Arabia relying upon it for their export cargoes.

Polymer manufacturer Covestro has signed a memorandum of understanding with ammonia and urea exporter Fertiglobe and chemical producer TA’ZIZ to explore collaboration across the ammonia and nitric acid value chains. The MoU reflects the parties’ shared interest in assessing both near-term supply solutions and longer-term opportunities supporting the transition toward lower-carbon production pathways. The agreement was signed during the visit of German Chancellor Friedrich Merz to the UAE.

Pilbara Ports has signed a memorandum of understanding (MoU) with Yara Pilbara for low carbon ammonia bunkering. The companies have agreed to collaborate on government and stakeholder advocacy, develop a training program for safe ammonia handling, and are planning the necessary fuelling infrastructure at Dampier and Port Hedland ports as part of the Pilbara Clean Fuel Bunkering Initiative.

In just its first two months, 2026 had already managed to be a rollercoaster of a year, but at the start of March, the onset of hostilities against Iran by the US and Israel has managed to deliver another huge shock to markets, particularly commodities. Iran’s strategy of widening the conflict to neighbouring states, including by attacking Qatar’s massive LNG facility at Ras Laffan, effectively shutting it down, has sent the LNG market into chaos, and attacks on several tankers and other ships have paralysed maritime insurance markets and by default achieved the long-feared closure of the Straits of Hormuz.

Methanol’s phenomenal growth in the early years of the century was based on its uptake into fuel uses and its ability to bridge coal reserves with plastics production in China. However, with these sectors maturing, traditional chemical end uses are becoming the main growth sector once again.