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Argos sees net income grow to US$22m in 1H19
Corporate - 13 August 2019

Argos sees net income grow to US$22m in 1H19

Argos has announced that the company's net income grew by 33.5 per cent to US$22m in 1H19. Argos revenues also expanded by 10.6 per cent to US$1.419m, while EBITDA registered an increase of four per cent to total US$262.4m. Cement shipments were just under 8Mt, 1.2 per cent higher than in 1H18 and concrete dispatched were 5Mm 3 , down 2.5 per cent in 1H18 due to heavy rainfall in some par...

International - 16 August 2019

Indonesian cement industry down 2% in 1H19

The Indonesian Cement Association has reported that domestic cement sales volumes in the 1H19 dropped 2.2 per cent YoY to 29.4Mt due to weaker demand from Java (-2.8 per cent YoY) and Sumatra (-6.3 per cent YoY). This is likely to have been the result of a weak property sector, which accounted for around 70 per cent of the country's cement demand, coupled with delays in construction due to the...

Trading - 16 August 2019

AGMK contracted to supply cement to Afghanistan

Uzbekistan’s Almalyk Mining and Metallurgical Combine (AGMK) plans to ship several batches of cement to Afghanistan by the end of the year, after signing a number of supply contracts in July. The cement will reportedly be used for the construction of infrastructure and social facilities in the country, according to the company. The deliveries will be made from its Jizzakh and Sherabad plants. ...

Freight Markets - 19 June 2019

UBC and Baltrader form joint cement shipping alliance

Baltrader, based in Hamburg, Germany, and United Bulk Carriers (UBC), headquartered in Philadelphia, USA, have signed an agreement to jointly market their respective fleets of pneumatic cement carriers under the name Cement Carrier Alliance (CCA). The new set-up will be able to offer a wider range of vessel sizes, ranging from 3000t to 14,000dwt.  “As two independent partners motivated by ...

Corporate - 16 August 2019

Lugait Cement plant upgrades to meet Mindanao's rising demand

Holcim Philippines, Inc (LafargeHolcim group) is preparing to start work on the modernisation of its Lugait Cement plant in Misamis Oriental as it expects continued growth in Mindanao demand. Mindanao's cement demand comes not just from the two primary cities of Davao and Cagayan de Oro, but also from Zamboanga, Dipolog, Butuan, and other secondary cities. "For so long, Visayas demand has al...

Environmental - 16 August 2019

IIGCC calls on cement producers to reduce carbon emissions

The UK-based Institutional Investors Group on Climate Change has urged cement producers to considerably reduce their carbon footprint. The European fund, which manages US$23trn, called on cement companies to reduce their greenhouse gas emissions and commit to the 2015 Paris Agreement. It said cement companies should support the policy towards a carbon-free economy. Inaction could jeopardise t...

Recent Orders - 13 August 2019

Cruz Azul orders two Loesche petcoke VRMs

CYCNA (Cruz Azul group) commissioned a Loesche cement grinding plant in Tepezalá, Mexico, last year, and this summer two more Loesche coal grinding plants for petcoke grinding will be installed at the Lagunas and Hidalgo cement plants. The Loesche LM46.2+2 CS cement mill was commissioned in August 2018 at the Tepezalá cement plant and is guaranteed to grind at a capacity of 110tph but has bee...