Strait of Hormuz

“The problem is, if you go back to January one, nitrogen markets and phosphate markets were already dealing with supply tightness because of European production rates, because of a lack of Chinese exports, because the ongoing Russian-Ukraine war.”

“And I think a lot of the countries around the world will do exactly that. Just sit there and throw their hands in the air and say, I'm reneging on my purchase because I don't need it right now.”

“Our estimates are somewhere between 900 to a million tons are sitting on vessels right now, literally just sitting in the Persian Gulf waiting, waiting for somebody to give them the go ahead.”

“About a third of the world's tradable urea gets exported through that waterway, and so we always look at the top 10 exporters in the world. That's who you really want to watch. Three of the world's biggest urea and anhydrous exporters sit behind the strait. Th…”

“If we get to the fourth of July and the straight is still closed, if we start up with my youngest is a freshman high school, be a sophomore in the fall. If he goes back to school in the fall and the straight is still closed, we have lost so much supply out the…”