The cargo will load and ship out of Saudi Arabia's western port of Yanbu in the Red Sea rather than the typical Ras Al-Kair on the east coast, avoiding the Strait of Hormuz. The price nets back to the high US$760s/t to about US$770/t fob via Yanbu.
This is the second vessel Maaden has lined up to export phosphates from Yanbu.
Maaden sold 15 000 t of MAP to South America in the prior week, the second week of March. According to Argus Media’s findings, MAP will ship in combination with 40 000 t of DAP/MAP which Maaden sold in January for shipment to Latin America.
This brings the DAP/MAP export line-up at Yanbu to about 105 000 t for April with expectations for that number to increase.
Original article written by Tom Hampson on Argus Media.
