August 5 International Fertilizer and Agriculture News

Kuwait's KPC Cuts August Sulfur Price by USD 85/tonne

Kuwait's state-owned sulfur producer KPC set its August Kuwait Sulfur Price (KSP) at USD 865/tonne, down USD 85 from the July KSP of USD 950/tonne. As of July 30, freight was USD 140-145/tonne for 30,000-35,000 tonnes shipped to Chinese ports. This implies a delivered cost of USD 1,005-1,010/tonne, although additional insurance fees would further raise prices on a delivered basis. Extra costs are said to be as high as USD 200/tonne for 30,000-35,000 tonne vessels, including freight and additional insurance premiums for vessels willing to take higher risks entering the Strait of Hormuz, implying delivered costs as high as USD 1,065-1,070/tonne to China.

Abu Dhabi's Adnoc Raises August Sulfur Price

Abu Dhabi state-owned company Adnoc has rolled over its August official selling price (OSP) for sulfur to the Indian subcontinent at USD 1,000/tonne, maintaining the July standard selling price. Adnoc's August OSP implies a delivered price of USD 1,140-1,142/tonne to India, while freight for 40,000-45,000 tonnes shipped to India's east coast was last assessed at USD 140-142/tonne on July 30. Since the breakdown of the US-Iran ceasefire agreement, shipping costs have risen by USD 35/tonne from July pricing, which has also pushed up the delivered price implied by FOB levels. Additional costs such as insurance premiums, together with higher bunker fuel costs, may further raise delivered price levels.