Fertilizers articles

Brazil chem exports up 48.2% in Jan/Feb on higher resin prices

Mon, 15 Mar 2010 22:28:00 GMT

SAO PAULO (ICIS news)--Brazil exported $1.9bn (€1.4bn) of chemicals during the first two months of 2010, up 48.2% year over year on larger volumes and higher prices of thermoplastic resins, Brazil’s chemical industry association (Abiquim) said on Monday. The country exported 1.9m tonnes of chemicals in the first two months of 2010, 24.8% more year over year, the association said. In the first two months of 2010, some 203,500 tonnes of thermoplastic resins valued at $272.5m were exported. In terms of value, exports of resins in the period were 35.4% higher year over year. However, in volume, resin exports were down 13.1%, Abiquim said. Imports of chemical products totaled $4.3bn in the period, 22.3% higher than during the first two months of 2009, Abiquim said. Brazil imported some 3.7m tonnes of chemicals in the first two months of 2010, 75.2% more than in the same period

Norway's Yara sees improved outlook after dropping Terra bid - S&P

Mon, 15 Mar 2010 20:31:00 GMT

HOUSTON (ICIS news)--Standard Poor’s (SP) Ratings Services on Monday removed Norway-based fertilizer maker Yara International from its CreditWatch Negative list in response to Yara dropping its takeover attempt of Terra Industries. SP affirmed its BBB long-term and A-2 short-term corporate credit ratings on Yara, and removed the rating from CreditWatch Negative. The negative outlook reflected uncertainty as to how the company would achieve its growth strategy, given the attempt at acquiring Terra, the ratings agency said. The agency said Yara had low financial headroom to absorb any unforeseen debt or partially debt-financed acquisitions. Yara was placed on CreditWatch on&nbs

Improved fertilizer markets bode well for investment - US analysts

Mon, 15 Mar 2010 18:56:00 GMT

HOUSTON (ICIS news)--Strengthening markets across the fertilizer spectrum bode well for the valuation of fertilizer companies, US investment house Dahlman Rose said on Monday. Higher potash sales projected for 2010 - along with improved margins for nitrogen and phosphate fertilizers - prompted Potash Corporation of Saskatchewan last week to raise its earnings per share (EPS) guidance for the 2010 first quarter from $0.70-$1.00/share to $1.30-$1.50/share. PotashCorp’s higher guidance, in turn, led New York-based Dahlman Rose to raise its price forecast for Illinois-based CF Industries’ nitrogen and phosphate products - while also issuing a buy rating. Dahlman Rose adjusted its price forecast for ammonia to $346/short ton (st) from $319/st, urea to $305/st from $317/st, and urea ammonium nitrate (UAN) to $187/st

Arab Potash Company to supply 150kt of potash to Sinofert

Mon, 15 Mar 2010 15:15:00 GMT

LONDON ICIS news)--Arab Potash Company (APC) has agreed to supply Chinese importer Sinofert with 150,000 tonnes of potash, to be shipped this month, APC said on Monday. The price has been described as competitive and in line with market conditions. According to fertilizer sources, the prices being discussed were close to $350/tonne (€256/tonne) CFR (cost and freight). China is a major potash importer and Sinofert already has a contract in place with Belarusian Potash Company (BPC), running from January to December 2010 at $350/tonne CFR. Sinofert also bought 350,000 tonnes from Canpotex for shipment up to the end of this month. Canpotex’s price was understood to be close to $350/tonne CFR. Further negotiations regarding additional supplies to the Chinese market were in progress between APC and Sinofert. ($1 = €0.73) To discu

BPC agrees potash-supply contract with Indian Potash

Mon, 15 Mar 2010 15:07:00 GMT

LONDON (ICIS news)--Belarusian Potash Company (BPC) has reached an agreement to supply 900,000 tonnes of potash to India at $370/tonne (€270/tonne), market sources said on Monday. BPC will deliver the 900,000 tonnes to Indian Potash Limited (IPL) over the coming 12 months. The shipments will begin in April and run through to March 2011. The price agreed was $370/tonne CFR (cost and freight) including 180 days’ credit. The market had been waiting for IPL to issue a tender until this sale was agreed last Friday. The agreement followed a 600,000 tonne sale by Canpotex in late February to two Indian buyers, Coromandel and Tata Chemicals, at the same price level. In related news, Rashtriya Chemicals and Fertilizers Limited (RCF) has issued a purchase tender for approximately 325,000 tonnes of potash for shipment for April through to August 2010. The te

India agrees 4m tonne fertilizer deal with Russia

Mon, 15 Mar 2010 13:37:00 GMT

LONDON (ICIS news)--Indian importers have agreed a 4m tonne fertilizer deal with a Russian supplier, sources said on Monday. The deal, agreed between Indian Potash Ltd (IPL), the Indian Farmers Fertilizer Cooperative (IFFCO) and Russian supplier PhosAgro, is for 3m tonnes of diammonium phosphate (DAP) over three years (1m tonnes/year) plus 1m tonnes of 10-26-26 blended NPK (nitrogen, phosphate, potash) fertilizer to be supplied over one year. The price for the DAP was agreed on a formula basis, whereas the NPK deal was agreed at a fixed price of $440/tonne (€321/tonne) CFR (cost and freight) for the year. According to Russian press reports, the deal, which was agreed during Russian prime minister Vladimir Putin’s visit to Delhi last week, was worth $1.5bn to PhosAgro. It was understood that US suppliers would arrive in

Turkmenistan approves loan for new urea, ammonia plant

Mon, 15 Mar 2010 10:00:00 GMT

MOSCOW (ICIS news)--Turkmenistan's authorities have approved a loan agreement with a Japanese bank to fund the building of a new urea and ammonia plant, the presidential press service said in a statement on Monday. Turkmenistan's president, Gurbanguly Berdymukhammedov, signed a decree to allow the Turkmen Foreign Trade Bank to complete a 13-year loan agreement with the Japan Bank for International Cooperation (JBIC), the statement said. The yen (Y) 45bn ($496m) loan would be used to build the new plant at Mary in southern Turkmenistan, it added. In December 2009, the country's state-run chemical holding, Turkmenkhimiya, signed framework agreements wi

US CF-Terra merger lowers shares as 14-month journey ends

Fri, 12 Mar 2010 22:46:00 GMT

(adds updates throughout) HOUSTON (ICIS news)--The $4.7bn (€3.4bn) merger between US fertilizer makers CF Industries and Terra Industries concluded a turbulent 14 months of proposals but was greeted somewhat negatively by investors, who sent shares lower on Friday at the New York Stock Exchange (NYSE). Terra nudged down by 1.2% to $46.33/share, while CF slid 3.9% to $96.73/share. Meanwhile, shares of Canada’s Agrium and Norway’s Yara - the two companies that were unsuccessful in their merger attempts with CF and Terra, respectively - were saluted by investors, who boosted the companies' shares by margins of 8% and 6.6%. The

US chemical group warns of chaos as EPA CO2 rule nears

Fri, 12 Mar 2010 21:14:00 GMT

WASHINGTON (ICIS news)--US chemical industry officials on Friday urged Congress to quickly block imminent regulation of greenhouse gases (GHG) by the Environmental Protection Agency (EPA), warning of chaos if the agency proceeds. Cal Dooley, president of the American Chemistry Council (ACC), said there is a growing sense of urgency for congressional action as the 31 March date draws near for a final rule by EPA on its controversial “endangerment finding” for greenhouse gases. The endangerment finding, issued by the agency on 7 December last year, holds that EPA has authority under the Clean Air Act to regulate emissions of carbon dioxide and other greenhouse gases because they cause global warming and thereby threaten Americans

VIDEO – ICIS news Americas Lunchtime Bulletin 12 March 2010

Fri, 12 Mar 2010 19:12:00 GMT

Here is the lunchtime bulletin for the Americas on Friday from ICIS news TV. The Lunchtime Bulletin brings you all the latest chemicals and market news and pricing trends three times a day from the ICIS news and ICIS pricing editorial centres in Singapore, London, and Houston. To discuss issues facing the chemical industry go to ICIS connect