Loading…
A vessel carrying a 55,000-tonne phosphate rock shipment from OCP for Agrium was detained in Panama under a maritime court order sought by the Polisario independence movement. It is the second such ship stopped this month, and the cargo was bound for Vancouver.
Agrium said it is working with the ship owner to resolve the situation and does not expect disruption at its Alberta fertilizer plant.
Repeated detentions of Moroccan phosphate cargoes raise supply-chain risk and could push phosphate rock prices higher, though Agrium's plant is not currently affected.
investingnews.comMelissa ShawMay 18, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
