55,000-ton Saudi phosphate cargo clears Hormuz for India
A Panamax vessel carrying about 55,000 metric tons of Saudi Arabian phosphate fertilizer has left the Gulf through the Strait of Hormuz, bound for Kakinada on India’s east coast, according to vessel-tracking data. The Panamax Breeze loaded at Ras Al-Khair on October 23 and 24, Argus Media reported.
The sailing is one of several October shipments moving Saudi phosphates out of the Gulf. The Leem loaded 54,000 tons of DAP at Ras Al-Khair between October 14 and 18 and reached Mundra on October 28. The Kmax Evdokia loaded about 76,000 tons between October 4 and 9 and reached Kandla on October 16. A third vessel, the Xin Hai Tong 27, has loaded about 55,000 tons of phosphate, thought to be DAP, for India.
Trade remains thin. Maaden sold three DAP cargoes totaling 120,000 tons to Indian importers earlier in October at $900 to $904 per metric ton CFR India. No new DAP sales to India emerged in the final week of October. Saudi offers stood at $900 to $902 per ton CFR, while trading firms and Indian buyers indicated prices in the $880s. Traders are also reluctant to buy on a free-on-board Ras Al-Khair basis.
The shipments show phosphate exports from the Mideast Gulf are recovering. Whether that recovery holds depends on whether Indian importers return to the market at current offers.
Source: Argus Media
Key Facts About the Saudi Phosphate Shipments
It carries about 55,000 metric tons of Saudi phosphate fertilizer. It loaded at Ras Al-Khair on October 23 and 24 and is bound for Kakinada, India, according to vessel-tracking data reported by Argus Media.
The Leem carried 54,000 tons of DAP to Mundra, arriving October 28. The Kmax Evdokia carried about 76,000 tons to Kandla, arriving October 16. The Xin Hai Tong 27 has loaded about 55,000 tons for India.
Maaden sold three cargoes totaling 120,000 tons to Indian importers at $900 to $904 per metric ton CFR India earlier in October. Late-October offers were $900 to $902 CFR, while trading firms and Indian buyers indicated prices in the $880s.
Traders are reluctant to buy on a free-on-board Ras Al-Khair basis, and no new DAP sales to India emerged in the final week of October. The report does not give further reasons.
No. It lists individual vessels but does not add up Saudi phosphate exports through Hormuz for the month.
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