Matthew De Yoe's questions to CF Industries Holdings Inc (CF) leadership • Q2 2025
Question
Matthew De Yoe from Bank of America asked about the impact of potential new urea capacity in China and the ultimate market size for blue and green ammonia in Asian energy and shipping markets.
Answer
EVP & COO Christopher Bohn (Note: The transcript attributes this to Bohn, but it was likely Bert Frost and others) noted that new Chinese capacity often replaces older, inefficient plants. He reiterated that global demand growth outpaces new supply, tightening the market. Regarding low-carbon ammonia, he estimated a 3-million-ton market by 2030 for Asian power generation, with growing interest from marine and other sectors.