22 March 2012 22:28 [Source: ICIS news]
HOUSTON (ICIS)--US fertilizer maker Mosaic said on Thursday that it has purchased 20,000 tonnes of ammonia at a price of $359.50/tonne CFR Tampa for late-April delivery.
The ammonia, sold on a cost and freight (CFR) Tampa basis, was sourced from Venezuela, and was purchased through Hong Kong-based trader Zhineng-Jiapyi, sources said.
The ammonia will load in Venezuela on the 23,500 tonne tanker Brugge Venture on 15 April, a source said.
Reports of the Mosaic buy surprised market participants because a recent sale of Black Sea-origin ammonia to US-based Koch through NF Trading was done at $450/tonne FOB (free on board) Yuzhny, which implies a price of about $510-520 tonne CFR Tampa.
The Koch cargo is set for the vessel Clipper Neptune and scheduled to arrive in the US Gulf in the second-half of April.
Negotiations for the April Tampa ammonia contract between Yara North America and its customers Mosaic and CF Industries are currently in process and are likely to be affected by news of the Mosaic purchase.
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