Prices in the Eastern Hemisphere, whilst still flat-to-firm, do not appear as supported as they have been over the past month, whilst indexes. There are still no signs of softening in the Far East although demand remains underwhelming and supply improving. While production in Indonesia is said to be back up and running, traders do not expect any spot cargo to emerge in July other than possibly some small part cargoes. August could see spot offers.
Hanwha Corporation and INEOS Nitriles have announced their intention to collaborate in a study for a new low-carbon ammonia facility with carbon sequestration in the USA, with a capacity of more than 1 million tonnes per annum. The location of the plant is yet to be determined. The two companies have agreed heads of terms, under which Hanwha and INEOS will jointly explore the feasibility of a facility to meet the growing global demand for ammonia with low-carbon emissions. A final investment decision is planned for 2026 with planned commercial operation in 2030.
In 1967, Stamicarbon revolutionised the urea production process with the invention of the HP CO 2 stripper by Mr Petrus JC Kaasenbrood. At a time when there was an energy crisis in many parts of the world, the HP CO 2 stripper led to three main benefits:
Indian producers have begun producing nanofertilizers at scale with the backing of the national government, as part of efforts to improve nutrient use efficiency, limit fertilizer subsidies and reduce fertilizer import dependency. But some scientists have questioned the claimed benefits and the overall efficacy of these novel crop nutrient products.
Market as of 20th June 2024. Urea: Prices remain stable while the market awaits clear price direction on whether to hold current f.o.b. levels or to push higher.
In a major milestone, Yara International has officially opened its renewable hydrogen plant at Herøya Industrial Park, Porsgrunn, Norway.
The production and use of nitrogen fertilizers are responsible for around five percent of global greenhouse gas (GHG) emissions. The fertilizer industry will need to drastically cut these emissions by 2050 as part of its contribution to the 1.5 °C global warming target. Yet around 48 percent of the global population rely on crops grown with nitrogen fertilizers. Guaranteeing food security, by continuing to supply affordable crop nutrients at scale, while transitioning to a low-carbon future, is therefore the collective challenge for the global fertilizer industry and world agriculture.
The need for immediate climate action and cuts in carbon emissions has never been more urgent, especially in a world where ecosystems are increasingly under threat. The production of green fertilizers offers a clear route to achieving these goals by decreasing the chemical industry’s reliance on fossil fuels. Stamicarbon’s Carmen Perez, Rolf Postma and Nikolay Ketov outline the company’s innovative and integrated approach to green fertilizer technology.
We compare and contrast the 2023 financial performance of selected major fertilizer producers following the publication of fourth quarter results.
Urea: Prices continued their global decline in mid-April, including at New Orleans. The notable exception was Brazil where prices firmed due to buyer interest in the market for May and beyond.