Key facts
- Three Saudi Arabian DAP/MAP cargoes totaling 154,000t have transited the Strait of Hormuz this week.
- The Global Unity, Banglar Joyjatra, and BC Agility are among the vessels that have passed through.
- These are the first phosphate cargoes to transit the strait since early May.
- A provisional peace deal between the US and Iran was announced last week.
- Five vessels carrying 319,000t of Saudi Arabian DAP/MAP remain stuck in the Mideast Gulf.
Three Saudi Arabian diammonium phosphate (DAP) and monoammonium phosphate (MAP) cargoes have successfully transited the Strait of Hormuz since the start of the week, totaling 154,000 tons of product. This development follows a de-escalation of tensions between the United States and Iran last week.
The vessel Global Unity, carrying 61,000 tons of Saudi Arabian DAP, passed through the strait yesterday and is expected to reach Visakhapatnam, India, on July 3. This cargo had loaded at Ras al-Khair in early March but was delayed due to the closure of the Strait of Hormuz amid regional conflict.
Additionally, the Banglar Joyjatra, with 37,000 tons of MAP, crossed the strait last night. The trader holding this cargo has specified its destination as South Africa, with an expected arrival in early July. This MAP cargo was loaded in early April.
Vessel tracking data also indicates that the BC Agility has transited the strait with 55,000 tons of MAP, bound for Rio Grande, Brazil, with an estimated arrival on July 25. Loading for this shipment was completed in the latter half of March.
These crossings represent the first phosphate cargoes to navigate the Strait of Hormuz since the first half of May. Despite these movements, five other vessels carrying 319,000 tons of Saudi Arabian DAP/MAP remain stalled in the Mideast Gulf. Sellers and buyers of phosphates are reportedly exercising caution regarding the provisional peace deal, with the seven remaining cargoes yet to move.