Argus Ammonia

Formerly Argus FMB Ammonia

Issue 21-41  |  Thursday 14 October 2021

Executive summary key prICES

Prices remain firm in the west Ammonia prices $/t

14 Oct 7 Oct ±
The uncertainty facing the ammonia market in November
is limiting fixed-price business, but prices made further fob
gains this week in west of Suez markets. Importers in Pivdenny 660-710 630-710 t

east Asia continue to look for further price reductions for Middle East 570-585 570-590 u
SE Asia and Australia spot 590-600 590-600 34
4Q deliveries, but tighter availability from Indonesia in
cfr
November may stall any significant drop in delivered prices.
India 605-620 605-630 u
Gas prices remain above $30/mn Btu in Europe, keeping
East Asia (excl Taiwan) 620-645 620-645 34
cost of production above $1,100/t. Borealis bought an Alge-
Tampa 665 665 34
rian spot cargo from Trammo for delivery to Rouen, but no
For a full list of prices, see page 2
new pricing was confirmed over the week.
Ammonia price comparison $/t
Market drivers

Indonesian supply east Asia cfr Caribbean fob netback

southeast Asia fob Middle East fob
Indonesia's PAU plant went into a turnaround this week and 700
the maintenance period is expected to last for a month.
650
Kaltim's Ammonia 5 unit at Bontang is also scheduled to shut
for maintenance in mid-November - the plants has a 2,500t/ 600
day ammonia capacity. -
hh
550

US prices soar 500

US prices continue to surge to more than 14-year highs as 450

spot demand for the upcoming application season grows.
400
Retailers estimate more than 75pc of fall needs have been 1 Apr 20 May 8 Jul 26 Aug 14 Oct
met but little resistance to record-high pricing was noted
as healthy levels of buying were reported this week. Sellers Data & Download index
continue to offer product above $1,000/st fot.
„„ Indian ammonia imports
China domestic prices rise „„ Indonesia ammonia export line up
Domestic prices have risen by over $140/t in some regions,
supported by higher feedstock coal and gas prices. „„ Middle East ammonia exports
„„ Pivdenny ammonia supply outlook
Turkish demand uncertain „„ Turkey ammonia imports
Turkey's ministry of commerce (MoC) has placed restrictions
on all nitrogen, phosphate and potassium-based fertilizers, „„ China ammonia imports
effective immediately. „„ Algeria ammonia exports
„„ Spot ammonia sales
30-60 day Outlook
„„ Trinidad and Tobago export line up
Rising energy costs and maintenance in the east are likely to „„ Morocco ammonia imports
impact east Asian markets in November.
„„ Maintenance tracker

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 Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

Europe Ammonia prices $/t

14 Oct 7 Oct ±

Pivdenny fob
Prices are in the $660-710/t fob this week, with the low-end Baltic 646-720 603-720 +21.5
reflecting estimated netbacks on sales into Morocco and
Pivdenny 660-710 630-710 +15.0
Turkey.
North Africa 660-680 630-680 +15.0
Ammonia delivery rates to the port are still slow. Pump-
Middle East 570-585 570-590 -2.5
ing rates remain reduced down the ammonia pipeline this
US Gulf domestic (barge) $/st 640-640 640-640 nc
week because of a electricity availability at the pumps at
Pivdenny port. ToglattiAzot is currently only delivering 165t Caribbean (Tampa netback) 629 629 nc

/hr and Rossosh is pumping 50t /hr, bring the total to only Caribbean/US Gulf spot 630-640 630-630 +5.0

215t /hr. So there is little potential for further spot sales to SE Asia and Australia spot 590-600 590-600 nc
be made this month. SE Asia and Australia contract 580-590 580-590 nc
Rossosh is delivering ammonia to the port to sell into the cfr
Ukrainian market, and will not export any ammonia vol- NW Europe (duty unpaid) 675-756 675-756 nc
umes this month. OCP’s Clipper Venus, which usually loads NW Europe (duty paid/free)† 710-797 710-797 nc
a combination of ToAz and Rossosh ammonia, will load all of
Turkey 680-705 655-700 +15.0
its ammonia volumes from ToAz in late-October, and again in
North Africa 670-710 670-700 +5.0
late-November.
India 605-620 605-630 -5.0
Yara has nominated the Yara Sela to load around 12,000t
East Asia (excl Taiwan) 620-645 620-645 nc
from Pivdenny later this month, under the sale agreed with
ToAz in September at $630/t fob. The cargo will most likely Taiwan 615-630 615-630 nc

be delivered to Italy. China 620-640 620-640 nc

Tampa 665 665 nc

Baltic US Gulf 670-670 670-670 nc
The Baltic fob range is $646-720/t this week – up from $603- Natural gas
720/t fob last week. Eurochem’s Gas Snapper loaded from Henry hub $/mn Btu 5.510 5.850 -0.3400
Sillamae last week and has discharged for Yara at Glomfjord, TTF month ahead $/mn Btu 30.080 33.890 -3.8100
Norway and is now heading to Rostock, Germany.
Ammonia cost of production (TTF) 1,101.55 1,234.90 -133.35
†this price range includes a duty level set at 5.5pc
Turkey
Ammonia import demand for late-October/November is not
clear, following the government’s official ban on fertilizer
exports, announced this week. It is unclear for now if
Ammonia freight
producers like Bagfas who import ammonia to produce CAN,
Loading Destination Tonnage Rate ($/t)
largely for export, will still maintain current operating rates.
Low High

Ammonia production costs Pivdenny NW Europe 23 47.00 57.00

Pivdenny Morocco 23 36.00 44.00
Pivdenny North Turkey 10-15 21.00 34.00
Production cost based on Henry Hub, $/st (LHS) Pivdenny South Turkey 10-15 33.00 42.00
Production cost based on TTF, $/t (RHS) Baltic NW Europe 23 30.00 39.00
300 1,250
Ras al Khair South Korea 23 73.00 85.00
250 1,000 Ras al Khair WC India 23 25.00 38.00
Ras al Khair EC India 23 40.00 52.00
200 750 Middle East WC India 10-15 39.00 49.00
Middle East EC India 10-15 51.00 59.00
150 500
Point Lisas East Asia 23 107.00 115.00
Point Lisas US Gulf 23 28.00 45.00
100 250
Point Lisas NW Europe 23 49.00 54.00
50 0 Point Lisas Morocco 23 34.00 44.00
8 Oct 20 11 Feb 21 10 Jun 21 7 Oct 21 Bontang East Asia 23 32.00 44.00

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Issue Ref: 455917

Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

PIVDENNY (YUZHNY) SUPPLY OUTLOOK

R U
S S
I A
Pivdenny price narrows to
$660-710/t fob Pumping rate on ammonia
pipeline slows

Togliatti

U K R
A I
N E Rossosh out of export
market for October

Odesa
Yara Sela nominate to load
for Italy
Black
Sea
Caspian
Sea

Yuzhny, Ventspils and NWE prices $/t

NW Europe
Gas prices in Europe remain high, but are still below the Yuzhny fob Ventspils fob NWE cfr
peak levels seen last week, with TTF month ahead prices 750
closing at around $34/mmBtu today. No further ammonia 700
plant shutdowns have been announced, but import demand
650
in west Europe looks firm for 2H October/November.
600
hh
UK 550
It has been confirmed that the CF Fertilisers plant at
500
Billingham will continue to run until the end of the
450
year, having confirmed offtake contracts with local CO2
customers. The ammonia and AN plant, which shutdown last 400
24 Jun 22 Jul 19 Aug 16 Sep 14 Oct
month but restarted with the help of a 3-week government
support program, will run until at least January 2022.

Netherlands
Pivdenny vessel line-up
OCI continues to run only one of its 550,000t /yr ammonia
Vessel Volume Shipper Destination Loading
units at Geleen. Fertiglobe will deliver two cargoes to
Geleen in 2H October – a 15,000t cargo loading from EBIC, October 210,152

Egypt this week on the Navigator Genesis, and 15,000t Gas Cobia 23,327 ToAz Tunisia 1 Oct

loading next week on the newly-chartered Navigator Grace Clipper Venus 39,925 ToAz Morocco 4 Oct

from Algeria. Gas Grouper 23,300 ToAz Turkey 14-15 Oct

Gas Cobia 23,300 ToAz Turkey/Bulgaria 15-16 Oct

Togliatti-Odessa pipeline pumping rates Clipper Odin 25,000 ToAz Belgium 16-18 Oct
Yara Sela 12,000 Yara Italy 23 Oct
ToAz Rossosh Total Stocks
Clipper Venus 40,000 OCP Morocco 25-26 Oct

12 Oct 195 25 220 57,000 Gas Grouper 23,300 ToAz TBA 26-28 Oct

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Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

Middle East and Africa Morocco

OCP is receiving the following shipments in the second half
Saudi Arabia of October:
Ma’aden’s MPC plant is running at full rates now. The Saudi „„ 16 October, Clipper Venus, 39,924t
producer will export 140,000t in October to east Asia and
India, 95,000t in November, and 100,000t to December to „„ 24 October, Clipper Orion, 37,506t
Jordan, India and east Asia.
Demand from India had picked up. Sabic has loaded a „„ 29 October, Kaprijke, 25,000t
full cargo on Al Jabirah and will load 23,000t on Al Barrah
shortly – both for delivery to India. The producer’s charter „„ 1 November, Navigator Jorf, 25,000t
on both the Al Jabirah and Al Barrah will end early next
year, with one charter ending in January and the second in
April. Sabic has the option to extend the charters for up to
Yuzhny vs Middle East fob price $/t
60 days, but is currently evaluating new charter opportuni-
ties for next year. Sabic has 600,000t of surplus ammonia
from its plants at Jubail and 200,000t of ammonia from the Middle East fob Yuzhny fob
700
MPC plant at RAK, to export annually.
600
Algeria
500
Trammo sells Algerian cargo to Borealis
Trammo is loading 15,000t on MaryCam Swan this week -
400 hhhhhhh
which will deliver to Rouen for Borealis. The price is
not reported. Fertiglobe is loading the newly-chartered 300
Navigator Grace from Arzew this week with 12,000t for 200
delivery to Rotterdam.
Fertial is shipping an Annaba cargo to Lisbon, Portugal. 100
11 Jul 19 6 Feb 20 27 Aug 20 25 Mar 21 14 Oct 21

the Ammonia world this week

China: Efforts to curb fertilizer exports

yet to lead to a reduction in prices, and
domestic prices have risen $100-200/t in
France: Borealis buys spot some regions.
cargo from Trammo

US: Sellers continue to offer

product above $1,000/st fot, with Malaysia: Petronas sells
further expectations of pricing to 15,000t to Trammo and
rise throughout the month as 3,500t to Yara on
application season nears. formula

Indonesia: PAU enters

maintenance period,
Kaltim TA scheduled for
November

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For more information visit http://www.un.org/Depts/Cartographic/map/profile/world.pdf

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Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

Egypt See more Argus green ammonia content

Egypt cargo heads to Europe
Fertiglobe is loading 15,000t of EBIC ammonia onto the
Navigator Genesis this month. The cargo will deliver to
Rotterdam.

Podcast: Green Ammonia

Indian subcontinent Discussing key questions facing the exciting green ammonia
sector around pricing, production costs, potential carbon taxes,
regulation and more.
Listen here
India
Podcast: Blue Ammonia
Delivered prices edged lower to $605-620/t cfr, in line with
Tackling the key questions and uncertainties facing the
latest shipments from the Middle East. blue ammonia sector, and assess the opportunities and
hurdles ahead.
Sabic has delivered 11,000t to Kandla, which settled close Listen here
to $610/t cfr. Ma'aden delivered 10,495t to Kakinada adn Webinar: Hydrogen Economy - Going Green
7,500t to Vizag on 12-13 October, both priced at $607/t cfr. Analysis of the hydrogen economy and its transition to green,
and the role blue and green ammonia will play in the hydrogen
Sabic will deliver a full cargo to IFFCO on the Al Barrah value chain.
Watch here
this month. The vessel is currently loading at Al Jubail.
Webinar: Green Ammonia – Opportunities and
Challenges in Asia Pacific
Delhi approves fertilizer subsidy boost With potential demand/supply dynamics in Asia at the
India's top economic committee has signed-off on cash forefront, we discuss the implications, regulatory drivers and
potential challenges.
injections to fertilizer subsidies covering DAP and some NPK/ Watch here

NPS grades from October to the end of March, to offset the Press release: ‘Green’ ammonia prices double that
of regular supplies
surge in international prices.
How can green ammonia hope to displace fossil fuel‑derived
“grey” ammonia?
View here
Bangladesh
SK Chemical is expected to load the Opec Universe at Questions? We’d be happy to address questions and
Chittagong on 18 October. explore how we can support you in capitalising on
this emerging sector. Please contact us directly at
fertilizer-m@argusmedia.com

Indian imports
Supplier Buyer Vessel Volume (t) Loading port Arrival Discharging port Price ($/t cfr)

October 182,245
Trammo Smartchem Trammo Dietlin 5,000 Ain Sokhna 1 Oct JNPT
Muntajat Greenstar Almarona 4,000 Mesaieed 2 Oct Tuticorin
CIFC Smartchem Opec Universe 11,500 KPI Bontang 2 Oct JNPT 629
Trammo IFFCO Trammo Dietlin 20,273 Ain Sokhna 3 Oct Kandla 625
Muntajat CIL Seashine 4,000 Mesaieed 4 Oct Kakinada 630
Muntajat CIL Seashine 5,000 Mesaieed 4 Oct Vizag 630
Muntajat IRC Agro Almarona 6,000 Mesaieed 6 Oct Haldia
Ameropa IFFCO Clipper Mars 30,001 Pivdenny 8 Oct Paradip low-600s
Ma'aden CIL Wepion 10,495 Ras al Khair 12 Oct Kakinada 607
Ma'aden CIL Wepion 7,500 Ras al Khair 13 Oct Vizag 607
Muntajat MCFL Almarona 4,000 Mesaieed 13 Oct Mangalore
Sabic IFFCO Al Jabirah 11,000 Al Jubail 14 Oct Kandla 610
Sabic GSFC Al Jabirah 12,000 Al Jubail 17 Oct Sikka
Ameropa IFFCO Clipper Mars 9,976 Pivdenny 18 Oct Kandla
CIFC CIL Gas Quantum 23,000 KPI Bontang mid Oct Vizag/Kakinada
Monet Smartchem Gas Akita 18,500 BIK mid Oct JNPT

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Argus Ammonia
Asia Pacific
Ammonia importers in east Asia continue to look for further
price reductions for 4Q deliveries, but tighter availability
from Indonesia in November may stall any significant drop in
delivered prices. East Asia cfr prices remain in the $620-
645/t range.
China
Overall import demand into China appears to be slow for
October, as buyers adopt a wait-and-see approach while
they assess the impact of newly introduced regulations
on fertilizer exports. But China’s efforts to curb fertilizer
exports in a bid to keep a lid on domestic prices has yet to
lead to a reduction in ammonia prices, and domestic prices
have risen $100-200/t since late-September in some regions.
It is unclear how much ammonia demand there will be
in 4Q, but trading firms expect domestic facilities to ramp
up fertilizer production ahead of clean-air initiatives being
introduced, in the run-up to the Winter Olympics scheduled
for February 2022.
Secco is scheduled to start at turnaround at its ACN facil-
ity in Caojing in November/December, but the exact start
date and duration is unclear. As a result, Secco’s import
requirements in 4Q are expected to be lower.
Mitsui will discharge around 5,000t for Covestro at Caojing
on the Gaz Millennium later this month. Mitsubishi’s Pazifik
is also delivering 11,000t to Caojing this week on account of
a trader.
China domestic
Domestic prices have risen sharply, by over $140/t in some
regions, supported by higher feedstock coal and gas prices.
Domestic prices are now significantly higher than the import
market.
India, East Asia and Middle East price
India cfr Far east cfr Middle East fob
675
650
-
625
600
575
24 Jun 22 Jul 19 Aug 16 Sep 14 Oct
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Issue 21-41  |  Thursday 14 October 2021
„„ Guizhou prices rose to Yn4,700-5,100/t ($730-792/t) deliv-
ery, up from Yn3,700-3,800/t ($575-590/t) delivery
„„ Sichuan/Chongqing prices rose to Yn4,000-4,200/t ex-
works, up from Yn3,150-3,250/t ex-works
„„ Yunnan prices rose to Yn4,800-4,900/t delivery, com-
pared with Yn4,200-4,300/t delivery
„„ Anhui prices rose to Yn5,000/t ex-works, compared with
Yn3,750/t ex-works
„„ Jiangsu prices rose to Yn4,750/t ex-works
„„ Hebei prices rose to Yn4,850/t ex-works, compared with
Yn4,600/t ex-works
Taiwan
Taiwan Fertilizer Company will shut down one of its NPK
units shortly for six weeks of maintenance because of some
technical issues at the plant. The producer is also scheduled
to shut down its ammonium sulfate and nitric acid units for
around one week each for maintenance. Domestic demand
for fertilizer has slowed and is not expected to pick up again
until February 2022. TFC will receive a 23,000t shipment
from Ma’aden on the Trammo Dietlin in late-October.
CPDC is starting the turnaround on both of its ACN lines at
Kaohsiung on 20 October – the maintenance at the 240,000t
/yr plant will run until mid-November. The producer re-
ceived 15,000t from Mitsubishi on Pazifik this week, priced
in the $620-630/t cfr range.
South Korea
The main buyers have covered their import requirements
for most of 4Q. Namhae Chemical Corporation is scheduled
to receive 15,000t of ammonia from Parna Raya later this
month, followed by 23,000t from Yara, 7,000t from Petronas
$/t and another 23,000t from Parna Raya during November.
For December, NCC has a 30,000t delivery scheduled from
Mitsubishi.
Lotte Fine Chemical has finally completed loading of the
Polar from the Middle East this week and for now the vessel
will discharge around 30,000t in Ulsan and at around 5,000t
in Incheon for Hanwha Corporation. LFC received 25,000t on
the Kallo from Ma’aden at the beginning of this month.
hh
Indonesia
Availability from Indonesia will be tighter in November. The
660,000 t/yr Panca Amara Utama (PAU)plant at Luwuk has
been shut down this week for maintenance. The ammonia
Page 6 of 10
Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

line is expected to restart in mid-November. Kaltim's Americas

Ammonia 5 unit at Bontang is also scheduled to shut for
maintenance in mid-November - the plants has a 2,500t/day
ammonia capacity.
Yara is loading a Bontang cargo this week on the Leo Sun-
rise. Gresik continues to absorb tonnes from local Indonesian
producers because of production issues. Parna Raya will
load the Marianna Golden in 2H October for Namhae, South
Korea, followed by the Gas Quantum for India. No new spot
fixed-price trade is reported from the region but producers
maintain prices are stable in the $580-600/t fob range.
Malaysia
Petronas has sold 15,000t to Trammo which will load from
Kerteh in the next week on the Hong Jin. The deal was
agreed on formula. Petronas has sold a further 3,500t
to Yara which loaded this week on the Leo Sunrise from
Sipitang.
Japan
Mitsui’s Gaz Millennium is now discharging at Nagoya and
will then head to Mizushima later this week before sailing to
China to deliver the balanced 5,000t onboard.
Singapore
Mitsui is discharging a small cargo at Evonik this week on the
Marianna 28 - the vessel will deliver the balance cargo to
Vietnam.
US
US ammonia prices continue to surge to more than 14-year
highs as spot demand for the upcoming application season
grows. Retailers estimate more than 75pc of fall needs have
been met but little resistance to record-high pricing was
noted as healthy levels of buying were reported this week.
Sellers continue to offer product above $1000/st fot, with
further expectations of pricing to rise throughout the month
as application season nears.
Most Gulf coast producers have resumed production after
shutting down following Hurricane Ida, and with terminals
well-stocked and most plants on line, concerns of supply
shortfalls for applications remain minimal. Out of the US
Gulf coast, indications for Nola barge values were stable at
$640/st fob in the absence of new trades.
Nutrien's vessel Yukon is delivering to Baton Rouge later
this week, while Koch is discharging a Trinidad cargo at Taft.
Trinidad and Tobago
Spot prices remain firm at $630-640/t fob, with higher
demand from the US, Europe and Latin America keeping the
rate of loadings from Point Lisas at a steady rate in October.
Around 280,000t is on the line up for the first three weeks of
the month.
Trammo is delivering a 15,000t cargo to Brazil on the
Navigator Galaxy. Around 62,500t of ammonia is loading for
delivery to Morocco this week.

Announcement
El Salvador/Mexico
The holiday calendar showing which Argus reports are
Trammo discharged a Trinidadian part-cargo at Acajutla, El
not published on which days is now available online
Salvador this week on the Green Pioneer. The balance of
https://www.argusmedia.com/en/methodology/
publishing-schedule the cargo will deliver to Topolobampo on the west cost of
Mexico.

Spot Sales Selection – 2021

Shipment Seller Buyer Destination tonnes $pt bulk Origin

October ToAz Eurochem Belgium 25,000 710fob Ukraine

October Eurochem Fertiglobe Europe 15,000 720fob Baltic
October Ameropa/ToAz Turkey 10,000 630fob Ukraine
October Ameropa/ToAz Yara Europe 12,000 615 fob Ukraine
September Nutrien US Gulf 25,000 630 fob Trinidad
September Koch Nutrien US Gulf 10,000 600 fob Trinidad
September Fertiglobe BASF Belgium 8,000 700 cfr Algeria
August Yara Ube Thailand 7,000 high-680s cfr Australia
August Trammo Indorama Senegal 7,500 low-600s cfr Trinidad
August AGT Trammo 7,000 585 fob Ukraine
August Fertiglobe CF UK UK 6,500 678 cfr
August ToAz Turkey 5,000 590 fob netback Russia

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Argus Ammonia
NEWS AND ANALYSIS
Turkey restricts exports on N fertilizers
Turkey’s ministry of commerce (MoC) has placed restrictions
on all nitrogen, phosphate and potassium-based fertilizers,
effective immediately, according to an official gazette
published today.
Continue reading >>
CF to maintain UK’s Billingham output
Fertilizer producer CF is to continue operations at its
Billingham complex in the UK until at least January next
year, after reaching pricing and offtake agreements with its
carbon dioxide (CO2) customers.
The reductions in output across Europe have generated
severe concerns in the market. The worries centre on the
affordability of fertilizers for farmers, with prices climbing
sharply as supplies have fallen, and on whether enough
product will be available for the spring application season.
Continue reading >>
Petrokemija ammonia, urea units off line
Croatian fertilizer producer Petrokemija’s ammonia and
urea units will remain off line after the completion of an
unplanned maintenance, as a result of high input costs.
Continue reading >>
Delhi approves subsidy boost for DAP, NPKs
India’s top economic committee has signed-off on cash
injections to fertilizer subsidies covering DAP and some NPK/
NPS grades from October to the end of March, to offset the
surge in international prices.
Continue reading >>
EU energy plans fall short, says Fert Europe
EU proposals aimed at tackling rising energy prices will not
significantly help the region's fertilizer sector, according to
industry association Fertilizers Europe, which also issued a
number of warnings regarding the current crisis.
Continue reading >>
Chinese fertilizer exports rise
Chinese fertilizer exports in September increased by 19.8pc
from August and 16.8pc from a year earlier on rising demand
from international markets, data from China's general
administration of customs (CGAC) show.
Continue reading >>
US harvest rise still above 5-year average
Rainy weather across the Corn Belt and most of the central
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Issue 21-41  |  Thursday 14 October 2021
US was not enough to disrupt the US fall harvest this past
week.
Continue reading >>
QP rebrands as Qatar Energy
Qatar’s state-owned oil and gas firm Qatar Petroleum,
known as QP, has rebranded itself as Qatar Energy, as the
country moves to solidify its dominance of the global LNG
market and position itself for the transition to a lower-
carbon energy system.
Continue reading >>
Fertiglobe to raise $830mn in UAE listing
Urea and ammonia producer Fertiglobe aims to raise as
much as $830mn by floating 13.8pc of its shares on the Abu
Dhabi Securities Exchange (ADX) later this month.
Continue reading >>
Fundamentals
China brings export restrictions forward
Chinese authorities will begin enforcing customs inspections
on DAP and MAP export cargoes from 15 October. Shipments
will drop significantly. Some buyers are hopeful that long-
term contracts will be exempt.
There has been little new business conducted in India.
Suppliers are targeting at least $720/t cfr. Offers moved
up to $750/t cfr Pakistan. Bangladesh is preparing a fresh
tender to buy.
In Europe, DAP prices have moved up beyond $800/t fca.
West of Suez, importers have purchased some small lots of
Moroccan MAP at $800/t cfr Brazil. But activity is largely
muted. Argentina is quiet. DAP/MAP barge prices are soften-
ing at Nola.
China restricts urea supply
Most activity this week centered on China where formal and
informal government activity has sharply reduced export
availability.
Traders rushed to secure vessels to load urea from Chinese
ports for India and elsewhere before a 15 October instate-
ment of customs inspections, as the market anticipates
measures will be taken to sharply reduce urea exports.
Prices in other regions continued to rise, in the main, but
at a lower pace than in previous weeks.
Brazil consolidated this week around the $800/t cfr mark
though, in the US, Nola barge prices fell on Thursday morn-
ing to around $750/t cfr equivalent.
Argus Ammonia Issue 21-41  |  Thursday 14 October 2021

green ammonia Green ammonia $/t

30 Sep 26 Aug ±

Japan’s Iino to supply ammonia ship to Mitsui Middle East LCO delivered NW Europe 1,194.49 1,192.49 34

Japanese shipping firm Iino Lines has signed a time charter

agreement to supply an ammonia carrier to Japanese trading
house Mitsui, starting in December 2023. NWE ammonia vs conventional marine fuel, weekly avg. 8 Oct
Continue reading >> $/mn Btu $/t MGOe $/t VLSFOe

NWE ammonia weekly assessment,

40.653 1,640.70 1,596.96
KBR selected for Oman green ammonia project wholesale, duty paid, cfr*
NWE green ammonia modeled value,
Privately-owned Indian renewables firm Acme has selected wholesale, duty paid, cfr
67.87 2,739.06 2,666.04
KBR to provide the technology for a planned 300 t/d green ARA MGO retail, delivered 16.67 672.55 -
ammonia project in Oman. ARA MGO retail, delivered including
22.29 899.65 -
Continue reading >> CO2 cost*^
ARA VLSFO retail, delivered 14.25 - 559.75
ARA VLSFO retail, delivered includ-
Australia’s NSW unveils hydrogen hub plan ing CO2 cost*^
19.93 - 782.96

Australia’s New South Wales (NSW) state plans to be a *weekly assessment cfr NW Europe
significant producer of hydrogen for domestic use and
export, through a A$3bn ($2.2bn) state-funded investment photovoltaic (PV) and batteries.
plan for the expansion of renewable energy to produce Continue reading >>
hydrogen rather than for alternative methods of producing
hydrogen from coal or gas. InterContinental Energy outlines plans
Continue reading >> InterContinental Energy expects the first phases of its
hydrogen and ammonia projects to come on line in the late
J-Power, Origin team up on green ammonia 2020s-early 2030s, with initial renewable power capacities of
Japanese power producer and wholesaler J-Power and 5-8GW.
Australian utility and gas firm Origin Energy will cooperate Continue reading >>
to develop a green ammonia business in Australia’s Tasmania
state, aiming to ensure stable supplies of the fuel to support Fujairah – Bunker market in 2021
decarbonisation efforts. and Decarbonisation prospects
Continue reading >>

Fortescue plan green hydrogen and ammonia

Fortescue Future Industries (FFI), the green energy arm
of Australia’s third-largest iron ore producer Fortescue
Metals, plans to build a hydrogen electrolyser production
plant at Gladstone in Queensland and convert an ammonia
production facility near Brisbane to green hydrogen.
Continue reading >>

Sasol to lead major S African hydrogen study
South Africa’s integrated chemicals and energy firm Sasol
will lead a feasibility study to explore the potential of
Boegoebaai on the country's west coast as an export hub for
green hydrogen and ammonia.
Continue reading >>
This on-demand webinar will take a deep-dive
review into market trends in 2021 and investigate
perspectives of low-carbon fuels (LNG, ammonia,
hydrogen, methanol & biofuels) coming into play
in the future. We will also touch upon the impact
of a possible lifting of sanctions on Iran on the
high-sulphur fuel oil market.

CS Energy, Japan IHI to build hydrogen plant Watch on-demand today

Queensland state-controlled utility CS Energy and its
joint venture partner Japanese engineering firm IHI will
build a pilot hydrogen plant with capacity of 50,000 kg/ Subscribers can download the latest green ammonia
yr from 2023, with the hydrogen to be produced from solar project and vessel tracking data here

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