Around 10-12 of the 16 fertiliser cargo vessels stranded near the Strait of Hormuz crossed the waterway before Iran claimed to have shut it again on Saturday following Israeli attacks on southern Lebanon, traders said, raising hopes of a decline in prices with the increased supply. Global urea prices have already begun to soften. At the onset of the Iran war, eight urea, four diammonium phosphate (DAP), one ammonia and three sulphur vessels bound for India were stranded in the strait. "Some vessels carrying urea, ammonia and DAP have crossed the strait," said an importer of fertilisers, who did not wish to be identified.
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