Canada's Canpotex to receive new potash vessel

04 November 2010 20:00  [Source: ICIS news]

HOUSTON (ICIS)--Canadian potash marketing firm Canpotex announced on Thursday that it would be receiving a new 60,000-tonne capacity ship.

U-SEA Saskatchewan is the first of nine new vessels to be operated by Canpotex through a joint venture with U-Sea Bulk of Copenhagen, Denmark.

The ship was built by Imabari Shipbuilding. It was scheduled to depart Japan immediately and arrive at Canpotex’s Neptune Terminals facility on Vancouver’s North Shore on 19 November, from where it would load Saskatchewan potash for its first maiden voyage.

“In addition to naming this first vessel after the Province of Saskatchewan, the remaining eight vessels will be named after Saskatchewan’s two main cities [Saskatoon and Regina] and six of Canpotex members’ 10 Saskatchewan potash mine locations,” said Canpotex chief executive Steve Dechka.

Canpotex said it had more than $900m (€639m) in forward commitments for 15 new vessels to be delivered between 2010 and 2014 through various joint venture arrangements.

Canpotex is jointly owned by potash producers PotashCorp, Mosaic and Agrium.

($1 = €0.71)

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By: Frank Zaworski
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