U-SEA SASKATCHEWAN EMBARKS ON MAIDEN VOYAGE

SASKATOON, Nov. 19 /CNW/ - The U-SEA SASKATCHEWAN received a warm welcome upon arrival today at Canada Place in Vancouver, B.C.

The vessel, on its maiden voyage and first visit to Canada, was welcomed by representatives of the Governments of Canada, Saskatchewan and British Columbia, the City of Vancouver, Canpotex's customers, Neptune Terminals, and the Vancouver waterfront.

The U-Sea Saskatchewan departed Japan on November 4 and is the first of nine vessels being built for Canpotex through a joint venture with U-Sea Bulk of Copenhagen, Denmark. The first vessel is named for the Province of Saskatchewan, and the remaining eight will be named after the Cities of Saskatoon and Regina and six of Canpotex members' ten potash mine locations in Saskatchewan.

"It is an honour to participate in a ceremony celebrating an ocean vessel named for our Province. This vessel, thanks to innovative planning by Canpotex, is yet another fine example of the progressive developments taking place in our province that contribute to the economies of Saskatchewan, British Columbia and Canada, and to our strategic international image," Saskatchewan MLA Warren Michelson stated, speaking on behalf of Saskatchewan Premier Brad Wall and Minister of Energy and Resources, Bill Boyd.

Scott Rudderham, Canpotex's Vice President, Operations, noted the importance of having reliable ocean freight services.

"In order to keep our customers supplied with quality Saskatchewan potash on a consistent and timely basis, we require reliable and state-of-the-art handling and transportation systems."

From Canada Place, the U-SEA SASKATCHEWAN will sail to Canpotex's Neptune Terminals facility in North Vancouver, where 58,000 metric tons of Saskatchewan potash will be loaded for a 21-day journey to Thailand and on to Indonesia.

"Following delivery, this potash will be used to fertilize important crops such as rice and oil palm," Rudderham said, noting that in addition to marketing and transporting Saskatchewan potash, Canpotex invests in market development programs that educate farmers about the benefits of balanced fertilizer applications.

Canpotex has more than US$ 900 million in forward vessel commitments, which include a total of 15 new vessels to be delivered between 2010 and 2014 through various joint ventures.

Visit our online gallery for images of the U-SEA SASKATCHEWAN's arrival in Canada and photographs of the welcoming ceremony: www.Canpotex.com 

Operating continuously since 1972, Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. (TSX and NYSE: AGU), Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company (NYSE: MOS), and Potash Corporation of Saskatchewan Inc. (TSX and NYSE: POT).

Agrium supplies Canpotex with 9.28% of its potash product, Mosaic 37.11%, and PotashCorp 53.61%.

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