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    Tag: United States

    Uncharted waters

    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.

    Yara acquires Gulf Coast Ammonia plant

    Yara International has reached an agreement to acquire Gulf Coast Ammonia’s (GCA) ammonia production facility in Texas City, Texas from GCA Holdings LLC, for a consideration of $ 1.3 billion. Yara says that the acquisition is part of its strategy to diversify its energy exposure and enhance the competitiveness of its global ammonia production footprint. Yara will own the ammonia plant with an expected nameplate capacity of 1.3 million t/a, with Air Products supplying industrial gases to Yara as part of a long-term supply agreement. Yara will use its midstream ammonia platform to supply both external customers and its own internal sourcing needs.