APC sends largest bulk potash shipment to China

[03-03-2021 01:09 PM]

Ammon News - The Arab Potash Company (APC) on Tuesday announced that it had exported the largest shipment of bulk potash in its history to a Chinese customer.

The company said it loaded about 90,000 metric tons of potash aboard bulk carrier "Double Pride" which will transport the shipment to Sinochem, a Chinese state-owned multinational producer and manufacturer of chemicals and fertilizer.

With today's shipment, the APC breaks a record set in January when 78,090 metric tons of potash was shipped to the same client, Sinochem.

In a statement, APC Board Chairman Shehadah Abu Hdeib commended the company's executive team which, he said, played a positive role toward enhancing the firm's operating results and honoring its commitments to its clients, shareholders and staff.

He noted the company's 2020 performance, noting it posted a net profit of JD127 despite the fallout from the coronavirus pandemic and "unfavorable market conditions."

APC Chief Executive Officer, Ma'en Nsour, said the company was able to record "distinguished" results in 2020, which saw potash prices go down by 19 per cent.

He explained that a robust risk management strategy, higher efficiency and better cost control were the main drivers of the company's performance.

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