Cement News tagged under: Trade
Red Sea crisis on Pakistan’s cement industry18 January 2024, Published under Cement NewsPakistan closely monitors the Red Sea crisis as it could disturb the movement of cement export cargoes to the USA and Europe as well as affect coal imports at Pakistani ports. It is also feared that any trade re-route would spark new inflation and supply chain disruption worldwide and in Pakistan. IMS Research, in a situation review report, warned that escalating tensions in the Middle East have begun to exert a notable influence on global trade, with Yemeni Houthi actions targeting commerc... |
Turkish exports to Azerbaijan down 3% in 202316 January 2024, Published under Cement NewsTurkey’s cement exports to Azerbaijan declined by almost three per cent to US$50.9m in 2023, compared to the previous year, reports Azernews. According to Turkey’s Ministry of Trade, cement exports from Turkey to Azerbaijan advanced by 0.9 per cent to US$5.7m in December 2023, versus the same month in the previous year. Looking at 2023 as a whole, Turkey’s total cement exports were down 15.5 per cent YoY at US$4.6m, while December 2023 alone saw a 19.7 per cent decline YoY to US$353,00... |
Al Jouf Cement secures six-month export deal11 January 2024, Published under Cement NewsJordan-based Rabou’ Al Taybeh Co has agreed to receive clinker exports from Al Jouf Cement Co of Saudi Arabia for a period of six months. The contract’s value stands at SAR30m (US$8m), representing more than 10 per cent of the company’s total revenues, states Mubasher. The Tadawul-listed company highlighted that the agreement will reflect positively on its income statements, starting from the 1Q24 until 2Q24. The clinker export agreement is subject to renewal. Al Jouf operates a 3.5M... |
Power Cement exports to the UK02 January 2024, Published under Cement NewsPower Cement of Pakistan has marked a significant milestone. It has successfully entered the European market by exporting its high-quality cement to the United Kingdom. This initiative demonstrates Power Cement’s commitment to global expansion and positions the company as a formidable force in the international construction materials arena and, notably, as the first Pakistani cement exporter to enter the UK market. Saifuddin A Khan, director of export marketing at Power Cement, expr... |
US Great Lakes reports increase in cement shipments27 December 2023, Published under Cement NewsThe US Great Lakes has reported shipments of more than 1.8Mt of cement in the first nine months of 2023, according to the Ontario-based Chamber of Marine Commerce. This marks an increase of approximately 192,000t on the same period a year earlier. The movement of steel slabs has also risen, up by 93,000t YoY to over 354,000t. Total shipping activity for the US Great Lakes in the 9M23 came in at 32.6Mt, up by 422,000t on the same period a year earlier. The port of Duluth-Superior saw a 35... |
PIBT saw a host of economic challenges in FY22-2316 November 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) said in its annual report that during FY22-23, the company’s business was affected by the volumes handled, which lowered from 8.243Mt last year to 4.842Mt for the year ending 30 June 2023. It attributes the fall to the country's macroeconomic challenges, such as the high level of inflation, increased interest rates, devaluation of the Pakistani rupee against the US dollar, reduced economic activity and import restrictions. As a terminal o... |
Pakistan's cement and clinker exports grow 44% in 3MFY23-2420 October 2023, Published under Cement NewsPakistan’s cement industry has sustained a noteworthy growth in cement and clinker exports during the first quarter of FY23-24 (July-September 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. However, the average value of these exports remained weaker. It fell to US$39.82/t from US$49.23/t but saw a growth in Pakistani rupees during this period. Pakistan’s cement and clinker exports increased by around 43.9 per cent in the 3MFY23-24 to US$66.6... |
Oman and UAE sign agreement on limestone exports18 October 2023, Published under Cement NewsOman and the Etihad Rail Co(OERC) have signed an agreement with Emirates Steel Arkan to facilitate the export of raw limestone from Oman to the UAE. According to Gulf News Reporter, OERC will provide logistics solutions for the transportation of 4-6Mta of limestone, which Emirates Steel Arkan plans to import from Oman to its cement factories in Al Ain, UAE. “Our collaboration with OERC enhances our supply chain capabilities by leveraging the railway network that connects both countries,” ... |
PIBTL reap benefits from PKR appreciation to reduce exchange losses18 October 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) will benefit from Pakistani rupee currency appreciation against the greenback. The rupee is getting stronger due to administrative measures. PIBTL was incurring losses due to exchange losses. According to Spectrum Research, the strengthening of rupee against the dollar by four per cent since June 2023 is poised to mitigate the foreign exchange losses, as the PIBTL holds foreign currency-denominated loans of approximately US$18.4m. Moreover... |
CBAM transition period comes into effect29 September 2023, Published under Cement NewsOn 1 October 2023 the transition period of the European Union's Clean Border Adjustment Mechanism (CBAM) regulation to control embedded emissions in imported goods including cement, will commence. Urszula Szalkowska, Managing Director at EcoEngineers, Poland, explains how it will work. The CBAM regulation covers several goods groups, including cement clinkers, white Portland cement, other Portland cement, other hydraulic cements, aluminous cement, and other kaolinic clays. Importer... |