River conditions hamper US granular urea market

01 April 2008 15:31  [Source: ICIS news]

LONDON (ICIS news)--The US granular urea barge market remains flat following extended winter weather and navigational difficulties on the river system, traders said on Tuesday.

 

A large number of fleeted barges continued to occupy the US Gulf region, waiting to go upriver along the Mississippi and Arkansas.

 

Prompt urea barge prices were yet to show a notable improvement, pegged at a similar level to last week, around $364-365/short ton FOB (free on board) Nola (New Orleans).

 

Some buying interest was shown on Friday 28 March said a trader, but then “everything went to pot”.

 

Traders explained that not only were river waters high but there was also a strong current downriver, which made it very difficult to transport barges upriver.

 

“There is not anything moving,” added a trader. “It is quiet and frustrating.”

 

For more on fertilizers see ICIS chemical intelligence

By: Carl Roache
+44 20 8652 3214

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