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Yara International Asa News

02 Dec 2022

TotalEnergies Joins Ammonia-powered Tanker Project

© HJBC/AdobeStock

France's TotalEnergies said it had joined a shipping project building test tankers which can be powered by ammonia, part of moves to speed up maritime industry decarbonization.Widely used in industrial applications, ammonia's suitability as a transport fuel has been limited because of the challenge of converting it into energy in a confined space. TotalEnergies is joining a subsidiary of Norwegian chemical company Yara International ASA, leading ship certifier Lloyd’s Register…

20 Jan 2021

Fertilizer Makers Eye Alternative Ship Fuels for Green Growth

© Pawinee / Adobe Stock

Two of the world's biggest fertilizer producers, CF Industries Holdings Inc and Yara International Asa, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the United States and Norway to produce clean energy to power ships.The consumption of oil for transportation is one of the top contributors to global greenhouse gas emissions that cause climate change, and fertilizer producers join a growing list of companies adjusting their business models…

01 Oct 2018

Yara Mulls Sale of Its Marine Scrubbers Business

Svein Tore Holsether (Photo: Fotograf Ole Walter Jacobsen / Yara)

Norwegian industrial chemical corporation Yara International said it is evaluating options for its Yara Marine Technologies (YMT) business, including a potential sale.Yara formed YMT after acquiring Green Tech Marine in 2014. The top three scrubber supplier expects its 2019 sales will more than double from 2018's predicted NOK 700 million, as ship owners and operators prepare for new ship emissions regulations due to enter force in 2020.Svein Tore Holsether, President and Chief Executive Officer of Yara International ASA…

10 Apr 2015

Knutsen is Head of Yara Downstream

Yara International ASA has appointed Terje Knutsen as Head of Downstream. He succeeds Egil Hogna, who has submitted his resignation. Knutsen will assume his new position on 1 May 2015. Yara's Downstream business unit manages the company's global sales, marketing and distribution of fertilizers. Terje Knutsen currently heads Yara's business unit for Downstream activities in North & East Europe. Prior to this, he was Head of Business Unit Asia. Aged 52, Knutsen holds a Master's degree in economics and business administration from the Norwegian School of Economics (NHH). Since joining the company in 1987, he has had an extensive international career, working twelve years outside Norway. Knutsen will be part of Yara's executive management team and report to the President and CEO.

23 Oct 2014

Yara Reports Strong 3Q Results

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara reports a strong third-quarter result with record deliveries, reflecting both organic growth and the Bunge acquisition in Brazil," said Torgeir Kvidal, Acting Chief Executive Officer of Yara. "Our European production plants performed well, with both higher production and improved margins as natural gas cost has declined," said Torgeir Kvidal. Yara reports third-quarter net income after non-controlling interests of NOK 1,707 million (NOK 6.18 per share), compared with NOK 1,571 million (NOK 5.66 per share) a year earlier.

18 Oct 2014

No Merger of Yara & CF Industrie

Yara International ASA and CF Industries have terminated their discussions regarding a potential merger of equals transaction. "This has been a constructive process, with solid work by both parties. We were able to identify significant structural and operational synergies, but in the end it became clear that we would not be able to agree on terms that would be acceptable to all stakeholders," said Torgeir Kvidal, President and Chief Executive Officer of Yara International ASA. "I would like to thank the management team and Board of Directors of CF Industries for their hard work and cooperation throughout the discussions," said Kvidal. "Yara has an industry-leading business model combining a broad product portfolio and an unrivalled  global market presence.

02 Oct 2014

Yara Completes Acquisition of OFD Holding

Holding Inc. (OFD) allowing the integration process to start. The OFD operations comprise production facilities in Cartagena, Colombia and distribution companies across Latin America. Regulatory approvals have been obtained in almost all jurisdictions, including commitments which are not expected to materially impact the profitability of the acquisition. "We welcome the approvals from regulatory authorities which now allow us to close the acquisition and start the integration process. This is an important milestone which paves the way for Yara's further development in Latin America, creating value for Yara's shareholders and contributing to agricultural, industrial and mining sector growth in the region.

06 Aug 2014

Yara to Acquire Majority Position in Galvani

Yara International ASA has entered into an agreement to acquire a 60% stake in Galvani Indústria, Comércio e Serviços S/A ("Galvani"), for an enterprise value of USD 318 million. Galvani is an independent, privately held fertilizer company, controlled by Mr. Rodolfo Galvani Jr., a Brazilian entrepreneur. The company is engaged in phosphate mining, Single Super Phosphate (SSP) production and distribution of fertilizers in the center and northeast of Brazil. Galvani also owns licenses for two new greenfield phosphate mine projects in Brazil. The acquisition is in line with Yara's strategy for growth in Latin America, seeking to develop a production footprint in Brazil to complement its established position, following the recent acquisition of the Bunge fertilizer business in Brazil.

20 Jul 2014

Yara 2Q Results Report Improved Margins

Yara International ASA delivered strong second-quarter results, with improved European commodity margins due to lower gas price. The results were impacted by lower nitrate deliveries, but NPK deliveries and value-added premiums remained strong. "Yara reports a strong second-quarter result as margin improvements more than offset the volume impact of an earlier end to the season in Europe," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara. "Our NPK business continues to perform well, and I am pleased to announce a 250,000 ton expansion of NPK capacity in Uusikaupunki, Finland, for completion by end 2015," said Jørgen Ole Haslestad.

12 Feb 2014

Yara Reports Lower Q4 Results

Yara International ASA delivered lower fourth-quarter results, with weak commodity margins but robust value-added premiums and strong deliveries. Yara's board will propose to the Annual General Meeting a dividend payment of NOK 10 per share for 2013. "Yara's fourth-quarter results reflect weaker commodity fertilizer markets," said Jørgen Ole Haslestad, President and Chief Executive Officer in Yara. "On the positive side, we report strong production volumes and deliveries, and the Industrial segment delivers higher sales and margins. Value-added product premiums remained robust compared with the strong decline in global nitrogen, phosphate and potash prices," said Jørgen Ole Haslestad.

28 Jan 2014

Yara Orders Three Handy-size Ammonia Vessels

Yara International ASA has entered into shipbuilding contracts with Hyundai Mipo Dockyard (HMD) for the construction and delivery of three 20,600 CBM semi-refrigerated LPG carriers with an expected cost per vessel of $51 million (USD). Following an evaluation of current newbuild and time charter rates, Yara has chosen to build new vessels to replace existing time chartered vessels, covering part of its long-term transport requirement at attractive rates, meeting stricter environmental regulations and maintaining flexibility to serve Yara's production system. Yara currently has a fleet of 16-18 time chartered vessels serving its European plants and long-term off-take agreements in Trinidad and Australia.

13 Jan 2014

Yara Acquires SCR Systems Provider H+H

The Head of Yara’s Industrial Segment, Yves Bonte: Photo credit Yara

Yara International ASA said it has strengthened its position in emissions control for ships, industrial plants and heavy-duty vehicles with its acquisition of H+H Umwelt-und-Industrietechnik GmbH, which produces Selective Catalytic Reduction (SCR) systems for secondary NOx (nitrogen oxide, nitrogen dioxide) reduction in marine and stationary land engines. Increasingly stringent environmental regulations, including in the U.S. and Europe are imposing tougher NOx reduction standards on cruise ship…

27 Apr 2006

BW Gas Acquires Yara Fleet

Yara International ASA (Yara) and Bergesen Worldwide Gas ASA (BW Gas) have entered into a Heads of Agreement under which Yara sells its LPG/ammonia fleet to BW Gas consisting of seven fully owned and three chartered-in vessels for an agreed price of $347m. Yara and BW Gas will also enter into a partnership agreement under which BW Gas will provide shipping services that Yara has defined to be non-core. The partnership will increase both parties' flexibility providing a platform for future expansion of their seaborne ammonia trading and transportation businesses.