Tag: Shipping

The fragile ceasefire between the United States and Iran broke down at the start of July, just three weeks after the signing of the June memorandum of understanding, after Iran fired at several vessels who had failed to notify them of their transit of the Strait of Hormuz, and the US retaliated with a missile barrage. While the two month negotiation period it had specified to solve all of the outstanding issues between the two parties had always seemed over-ambitious, market participants had at least expected to have that grace period to arrange for new cargoes and tranship them through the Strait. Now that the ceasefire has ended early, markets are truly entering uncharted waters.

Rail, road, ship or pipelines all bring different benefits and risks to long distance transport of ammonia, but the fundamentals of ammonia safety remain a constant.

Lloyd’s Register (LR) has issued the first Type Approval Certificate for a 100% hydrogen-fuelled, spark-ignited marine engine. The approval has been awarded to the hydrogen engine developed by BeHydro and confirms the design meets LR’s requirements for safety, performance and reliability in marine applications.

Securing the fertilizer lifeline was the theme of this week's IFA Annual Fertilizer Conference in Monaco.

JERA has signed time charter agreements with NYK Bulkship (Asia) and Mitsui O.S.K. Lines (MOL) for four fuel ammonia carriers to support Japan’s first commercial scale low carbon ammonia value chain from the US to Japan.

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.