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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 23,800 18 apr 2024 17:35
  • 0,000 (0,00%) Dagrange 23,560 - 23,960
  • 2.676.573 Gem. (3M) 2,4M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 752 753 754 755 756 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 21 februari 2018 19:46
    EVRAZ and Russian Railways sign a new five-year contract for the supply of rail products

    EVRAZ and Russian Railways (RZD) have signed a new long-term agreement for the supply of rail products. The document comes into force on 19 February 2018 and will be valid for five years. According to the new agreement, for five years EVRAZ will deliver to RZD 3.2 million tonnes of products worth 111.7 billion rubles without VAT. The agreement provides for formula-based pricing.

    EVRAZ will continue to supply rails of all categories demanded by Russian Railways, including special products: rails for high-speed mixed traffic, low-temperature resistant rails, rails with higher wear resistance and switch point rails. All these categories of rails in Russia are supplied only by EVRAZ. The agreement provides for a gradual increase in the supply of 100-meter rails to 360,000 tons by 2020.

    Ilya Shirokobrod, EVRAZ Vice President for Sales and Logistics said "The new five-year contract with our key partner, Russian Railways, is a logical step to continue our long-term relations. The contract specifies the volume of deliveries and the rail categories’ mix for each year, which allows both parties to plan their work more precisely. In addition, there is an option to redistribute the volume or rail categories, which will help our partner to flexibly manage the portfolio of orders depending on the needs. Meanwhile, EVRAZ and Russian Railways will continue to work together on the development of new products and improving the efficiency of railway lines’ maintenance.”

    Source : Strategic Research Institute,
  2. forum rang 10 voda 21 februari 2018 19:48
    GMS update on Shipbreaking in Pakistan in Week 07 - PINCH OF SALT?!

    The industry has been recently awash with rumors of a Pakistan reopening for tankers. Given that this has been the case for the last 6 months or so and until some actionable progress and results are seen from the various government bodies and the PSBA, it is certainly better to take the latest round of rumors with a generous pinch of salt.

    However, it does seem clear that there is certainly an ongoing dialogue and willingness from end Buyers (and the PSBA) to get the market re-opened, for what has been a traditionally favored type of vessel with Gadani Recyclers.

    Just how much longer will it take to lay down the various guidelines and import the first test cases remains to be seen.

    Meanwhile, another extraordinary high-priced sale for a Cape was seen this week as the CHOKANG SUNRISE (21,542 LDT) from South Korean owners (Sinokor) managed to fetch a remarkable USD 480/LT LDT for a likely Pakistan resale. This sale certainly comes as a surprise despite levels having recently cooled off in Pakistan and Cash Buyer speculation (particularly on dry tonnage) still showing no signs of abating.

    Source : Strategic Research Institute
    Bijlage:
  3. forum rang 10 voda 21 februari 2018 19:49
    Talks over GBP 100 million cash boost for Scunthorpe's British Steel

    Scunthorpe Telegraph reported that the owners of the Scunthorpe based British Steel company are looking to invest GBP 100 million in the business in a major boost for the town's 3,000-strong workforce. The investment would be the biggest since private equity backers Greybull bought the loss-making Tata Steel UK Long Products division in June 2016 for a nominal GBP 1.

    The talks with potential new financers are said to be at a positive stage.

    The cash raised would be invested in new coke ovens, upgrading existing mills and other improvements.

    Paul Martin, British Steel’s deputy chief executive, said that "The turn-around of our business is on track. As we look to build a sustainable future, we’re continuing to make significant investments in manufacturing operations.”

    "So far we've committed £80 million of capital expenditure, recruited 900 new employees and acquired FNsteel, a premium wire rod business in the Netherlands. The scale of our ambition means we’ll continue to invest in our long-term future and we've held positive talks with other potential sources of finance."

    Although the proposals are at an early stage, the cash pile will fund investment in the latest hi-tech machinery, including new coke ovens.

    Consultants at Alix Partners have been hired to lead the talks with prospective new backers.

    Sources close to the company said that the overhaul is badly needed after years of neglect at the hands of previous owners Tata Steel and Corus.

    British Steel is attempting to close the gap on foreign rivals in France, Germany and Austria, which have been able to pull away from UK steelmakers with generous state support on energy costs and taxes.

    Source : Scunthorpe Telegraph
  4. forum rang 10 voda 21 februari 2018 20:04
    BHP face fresh tension with union at Port Hedland

    Financial Review reported that BHP's flagship iron ore division could face fresh industrial tensions, with a union representing tugboat workers at Port Hedland expected to file a notification of dispute against the miner and its contractors within weeks. The Australian Institute of Marine and Power Engineers is preparing to renew hostilities with BHP, almost four years after it and two other maritime unions waged a long-running fight against the miner over annual leave and workplace conditions at Port Hedland.

    Within a year of that battle, BHP's unionized tugboat provider Teekay had lost its contract to operate at Port Hedland and been replaced by rival provider Rivtow, which operated with a different industrial relations model.

    Rivtow's tugs generally run under a "partnership model", similar to the structure of many law firms, which has proved to be a thorn in the side of unions because those crewing the tugs are technically owners, not employees.

    But there has been speculation in recent weeks that some tug partnerships at Port Hedland have been hiring marine engineers as employees, which could open the door to revived union activity.

    Mr Andrew Williamson assistant federal secretary of AIMPE said the union would raise the matter with the Western Australian Industrial Relations Commission.

    Mr Andrew Williamson assistant federal secretary of AIMPE said that "The AIMPE will this month be embarking on litigation against BHP in the port of Port Hedland and seeking an industrial instrument for that port from the WA Industrial Relations Commission to set aside what the union considers to be sham partnership arrangements."

    Mr Williamson has previously been warned by the new breed of tug operators at Port Hedland that he would be trespassing if he enters a tugboat run by a partnership.

    But the union believes the hiring of employees on tugs would give it right of entry.

    BHP introduced Rivtow and its partnership model during the reign of former WA Liberal Premier Colin Barnett, but the company will have to face this latest bout of tensions with a Labor government in power in WA.

    Iron ore is Australia's most lucrative export commodity, with the federal government's chief economist Mark Cully recently forecasting that USD 62 billion worth of iron ore would leave these shores in fiscal 2018.

    More than half of Australia's iron ore is exported through Port Hedland, highlighting the economic significance of any potential industrial turbulence at the port.

    Source : AFR
  5. forum rang 10 voda 21 februari 2018 20:07
    Mining banned in Goa iron affect revenues worth INR 3,400 crore - GMOEA

    Money Control reported said that stopping iron ore mining in the state will adversely affect revenues worth INR 3,400 crore. The Goa Mineral Ore Exporters' Association, in a letter to chief minister Manohar Parrikar, has said that the Supreme Court ruling will result in loss of direct and indirect employment of about 60,000 people. The letter dated February 13, 2018, said that “It will lead go financial liabilities for these small families in term of various loans and borrowings.”

    The Supreme Court recently canceled 88 iron ore licences in Goa where these lease holders have now been told to stop operating by March 16 and apply afresh for leases.

    The GMOEA said that the abrupt stoppage of mining will create technical economic hurdles with safety impacts of the mining pits. There is also a risk to mounting loan defaults. The letter said that “Loan amounts which have been advanced to various entities/individuals for purchase of mining machinery/trucks/barges as their earning potential would be reduced greatly thereby increasing the non-performing assets of financial institutions.”

    GMOEA said that the total contribution of mining (despite the present cap of 20 million tonne) and its activities to Goa's gross domestic product may still be over 10 to 12 %.

    In October 2012, the Supreme Court, based on the findings of the Justice M B Shah Commission report, which estimated a INR 35,000-crore loss to the exchequer due to alleged illegal mining over 12 years, had banned mining in all 90 mines in Goa.

    The apex court had lifted the ban in April 2014, but put an annual cap of 20 million tonnes on excavation.

    The GMOEA said that the evolution of Goa’s iron ore mining industry “and its manifold impact on the state’s socio-economic milieu has been well publicized in the past and has been one of the biggest earners of foreign exchange to the state exchequer.”
    GMOEA said that “We, therefore, request that the genuine concerns of the industry should and ought to be addressed at the highest forum to not only overcome the adverse impacts of the economy of the state in particular but also to protect the livelihood of the mining dependent people of the state.”

    Source : Money Control
  6. forum rang 10 voda 21 februari 2018 20:31
    Can scrap yards solve the crude tanker glut - Report

    Depending on when and where one looks, day rates for very large crude carriers (VLCCs) run between USD 8,000 and around USD 20,000. The sad fact is that break-even rates for these massive ships range between USD 30,000 and USD 40,000 a day, according to ship brokers in Singapore and London. This appears to be a classic case of supply exceeding demand, and the result is that more VLCCs are being sent for scrap. Low day rates, however, may be just one part of the problem for ship owners. Another is OPEC’s agreement to continue restricting production, further limiting demand at least through the first half of this year.

    New regulations regarding ballast water treatment and sulfur content in bunker fuel also may be forcing more owners to scrap older ships rather than bringing them into compliance with the new rules. Further encouragement for sending ships to the scrap yard comes from the rising price of scrap.

    According to McQuilling Services, last year, the demand to transport crude oil rose by 5.4% and led to a 4.9% increase in the number of VLCCs available. Net fleet growth through 2022 is forecast at 155 “dirty” (i.e., crude oil) tankers, of which 72 are VLCCs. A total of 24 VLCCs were removed from service in 2017. Net new VLCC orders totaled 19 in 2016 and 51 in 2017.

    According to a report from GMS, the world’s largest cash buyer of ships, nearly 10 VLCCs already had been sold or beached for 2018 as of Thursday. Pakistan, one of the major locations for ship scrap yards, reportedly has lifted its ban on tanker imports, and that would tend to weigh on scrap prices as well.

    According to shipping research firm Poten & Partners, a 15-year-old VLCC has a second-hand value of around USD 23 million and a scrap value of USD 18 million to USD 20 million. Scrapping the old VLCCs will help, but new deliveries for this year and next are expected to total 85 new vessels.

    Source : 24/7 Wall St.
    Bijlage:
  7. forum rang 10 voda 21 februari 2018 20:32
    Chinese robust appetite for raw materials to boost freight demand - Bimco

    Platts reported that China's strong demand for iron ore, coal and crude is driving up the demand for ships and is serving as an engine of growth for the dry bulk shipping and the tankers' sector, Baltic and International Maritime Council said in a report.

    Mr Peter Sand, Bimco's chief shipping analyst, said that "Not only is China repeatedly importing larger volumes, it is also sourcing most of its imported iron ore from seaborne exporters with more than 98% of the imports arriving via sea." Bimco is the world's largest international shipping association, with around 2,100 members in over 120 countries.

    China continues to ramp up its imports of iron ore, with seaborne imports growing 4.7% on the year to a record 1.054 billion mt in 2017, Bimco said. Close to 62% of China's iron ore imports are from Australia and 21% from Brazil, which benefits the dry bulk shipping industry due to longer routes. Around 4% of the imports are from South Africa.

    Bimco said that China's coal imports have also provided a strong support to the demand for dry bulk ships as shipments rose by 12% last year to 228.5 million mt via sea. Around 84% of the country's coal imports are now seaborne, up from 80% in 2016.

    Mr Sand said that China is not only importing larger volumes but is also replacing coal purchases via land with seaborne tons. The rise of US coal exports to China is largely beneficial for the dry bulk shipping industry. The 3.1 million mt of US coal shipments to China in 2017 generated high ton-mile demand. "This is highly beneficial for the dry bulk shipping industry as it has a strong multiplier effect on demand, providing some of the longest possible distances."

    Coal shipments from Norfolk in Virginia and Baltimore in Maryland to China involve voyages of up to 45 sailing days each.

    The biggest exporters of coal to China are Indonesia, Australia and Mongolia, with an annual share of 40%, 30% and 13%, respectively.

    Source : Platts
    Bijlage:
  8. forum rang 10 voda 22 februari 2018 16:33
    Helft meer winst voor Anglo American

    Gepubliceerd op 22 feb 2018 om 09:15 | Views: 582

    Anglo American 16:13
    1.791,80 -4,80 (-0,27%)

    ArcelorMittal 16:13
    28,29 -0,31 (-1,08%)

    JOHANNESBURG (AFN/BLOOMBERG) - Mijnbouwbedrijf Anglo American heeft 2017 met bijna de helft meer winst afgesloten vergeleken met een jaar eerder. Het concern profiteerde vooral van hogere grondstoffenprijzen en kostenverlagingen.

    De onderliggende winst kwam uit op bijna 3,3 miljard dollar, tegen 2,2 miljard dollar een jaar eerder. Per aandeel bedroeg het resultaat 2,57 dollar, iets beneden de verwachtingen van analisten. Het concern wist de schuld afgelopen jaar flink terug te dringen tot 4,5 miljard dollar. Twee jaar geleden bungelde Anglo, net als andere mijnbouwers, op de rand van de afgrond als gevolg van gekelderde grondstoffenprijzen. Anglo werd gedwongen om het dividend te schrappen en verscheidene mijnbedrijven te verkopen.

    Maar over 2017 wil Anglo een dividend uitkeren aan zijn aandeelhouders van 1,02 dollar per aandeel. Ook wil de onderneming de kosten tegen 2022 met een extra 3 miljard tot 4 miljard dollar terugdringen.
  9. forum rang 10 voda 22 februari 2018 19:34
    India, like Mr Trump, should also protect steel industry - Mr Sajjan Jindal

    Financial Express reported that as world’s cross nation activities enter into a new world divide of open economy and protectionism, with Donald Trump holding the protectionist flag high steel baron Sajjan Jindal has urged the Narendra Modi government to take the protectionist path as well. Mr Sajjan Jindal, in a tweet on Wednesday, said that since US Commerce Secretary Wilbur Ross is recommending higher import duty on steel and aluminium, India should consider imposing such tariffs as well as the recommendation is great and India needs a level playing field

    He added: Indian industry needs a level playing field, for which hand-holding by way of protection from unfair imports will add a fillip to its growth.

    Source : Financial Express
  10. forum rang 10 voda 22 februari 2018 19:35
    Chinese steel mills set to roar after curbs end - CISA

    Xinhua reported that Chinese steel producers are eager to unleash their mills’ capacity when this winter’s output curbs end next month. They are hoping for a repeat of last year’s record profits based on high margins and less competition after outdated plants were closed. China shut down up to half of its steel production this winter in 28 cities in the country’s manufacturing heartland in the north as part of an anti-pollution campaign. With margins still encouraging full output, China’s pent-up steel production should erupt when the curbs expire on March 15.

    Because of the curbs, China’s average daily steel output in December was the lowest in a year at 2.16 million tons, government data showed last month. Average daily output could rise to about 2.5 million tons if the mills quickly boost production when restrictions are lifted, Wang Yingsheng, vice secretary-general of the China Iron and Steel Association said recently.

    With the government likely to reimpose the limits next winter, northern Chinese mills will have only about eight months to run at full speed, so plants are stocking up on raw materials to maximize production while the market conditions remain strong.

    Profit margins have retreated from last year’s peaks, but are still more than enough to motivate maximum production, said the southern mill manager.

    Chinese steel margins for rebar this year are averaging 866 yuan a ton, according to data from brokerage CLSA. While down from last year’s average of 922 yuan, rebar margins are well above the five-year average of 251 yuan. Hot-rolled coil margins are averaging 865 yuan this year versus a five-year average of 259 yuan.

    Source : Xinhua
  11. forum rang 10 voda 22 februari 2018 19:35
    Liberty House to go to court for Bhushan Power & Steel assets - Report

    Economic Times reported that the gloves are off as UK's Liberty House is all set to fight the system to buy out bankrupt Bhushan Power & Steel. Liberty House told
    ET Now that it will move the NCLT to direct the Committee of Creditors to open its bid, which it said was superior in every way and a higher offer.

    An upset Liberty House wrote to ET Now, "Our bid was submitted before other bids were opened, so nothing unfair has happened. Our bid is superior in every way, so why would the creditors reject a higher offer? The creditors wanted to open our bid as they know its higher but lawyers stopped them. The process is not supposed to deny creditors to recover more money on these bad debts. Nowhere in the world do you have a bizarre system where creditors can be denied recovery."

    Liberty House did not elaborate in its statement on how the creditors might have known about the offer being "higher" or "superior in every way" before the actual opening of bids.

    ET Now had earlier reported that the Committee Of Creditors not only rejected but also refused to open Liberty's sealed bid for failing to meet the set deadline of February 8.

    Source : Economic Times
  12. forum rang 10 voda 22 februari 2018 19:39
    Chinese steel scrap exports zoom to 2.2 million tonnes in 2017 after ditiaogang closure

    Xinhua reported that China’s scrap steel exports soared last year as domestic demand was dampened, according to data from an industry association. The country exported 2.2 million tons of scrap steel last year, compared with just around a meager 1,000 tons in 2016, according to figures supplied by the China Iron and Steel Association.

    The surge came despite a 40 percent tariff on scrap steel exports as millions of tons of such steel was kept out of the domestic market due to a ban on the production of ditiaogang, or steel made from scrap metal.

    Most exports went to Southeast Asian nations. The biggest sources of exports were eastern and southern coastal provinces including Guangdong, Jiangsu, Zhejiang, Fujian and Hainan.

    China phased out the production of 140 million tons of ditiaogang last year as part of efforts to reduce excessive capacity in the steel sector.

    Source : Xinhua
  13. forum rang 10 voda 22 februari 2018 19:39
    Lenders ask Tata Steel to drop Nova Iron & Ambey Steel from bid for BPSL - Report

    Economic Times, citing people briefed on the matter, reported that the consortium of lenders to Bhushan Power & Steel has asked Tata Steel to waive certain conditions in its offer for the company.

    The Tata offer is conditional on lenders buying the entire equity of two Bhushan Power subsidiaries - BSE-listed Nova Iron & Steel, with a market capitalisation of about INR 30 crore and Ambey Steel & Power, which has a net worth of INR 60 crore. At a meeting of the creditors on Wednesday, the lenders said this condition was not reasonable. Tata Steel has been asked to revisit its conditions and come back with a final offer later this week.

    As per report “Tata Steel offered an upfront cash payment of INR 17,000 crore to the lenders of unlisted Bhushan Power & Steel. It offered an additional cash infusion of INR 7,000 crore in the company for working capital and payments to operational creditors and employees. Tata Steel also proposed to write off the entire equity of Bhushan Power and issue fresh equity to itself. The lenders have not been offered any equity in the company.”

    Bhushan Power & Steel owes lenders a little over INR 48,000 crore. Punjab National Bank is the lead lender, although SBI has disbursed the highest proportion of loans.

    Source : Economic Times
  14. forum rang 10 voda 22 februari 2018 19:40
    Turkey may consider retaliatory measures if US curbs Turkish steel imports

    Hurriyet Daily News reported that Turkey may respond with retaliatory measures if the U.S. moves to curb Turkish steel imports, Turkey’s Economy Minister Nihat Zeybekçi said “Such measures will hit Turkish importers, producers and exporters. If they complain about US measures, then we will assess the situation and are more likely to take retaliatory measures.”

    He said “Turkish steel producers have faced three anti-dumping investigations in the US but the cases were later dropped.”

    Mr Zeybekçi added that the Turkish government does not provide any support or incentives to local steel producers that create unfair competition.

    The minister criticized US policies, stating that they violated World Trade Organization (WTO) rules. He said “The U.S is not likely to reverse its protectionist policies any time soon. So we are taking precautions.”

    Zeybekçi’s remarks came shortly after news that the US Department of Commerce was considering various options for imposing customs duties or quotas on steel and aluminum imports, arguing that importing those products “weakens national security.

    The department’s primary recommendation is imposing a 24-percent tariff on steel imports. The second alternative is a tariff of 53 percent for 12 steel producing countries, including Turkey. Another involves imposing quotas based on 63 percent of each country’s 2017 steel exports. U.S. President Donald Trump is expected to make a decision on tariffs and curbs in mid-April.

    Last year, Turkey exported $1.1 billion worth of steel to the U.S., capturing a 5.7 percent share in the US’s total imports. This made Turkey the sixth largest seller of steel to the U.S. Turkey’s share in the U.S.’s total imports declined by 1.6 points from a year ago. According to U.S. data, Turkey accounted for the second largest share of the US’s long steel imports.

    Source : Hurriyet Daily
  15. forum rang 10 voda 22 februari 2018 19:41
    Section 232 steel tariffs will have negative impact on the US economy - AIIS

    The American Institute for International Steel released the following statement from AIIS Board Chairman John Foster in response to the Department of Commerce’s release of its report on the Section 232 investigation of the impact of steel imports on national security: “The recommendations in the Commerce Department’s Section 232 report are excessive and unnecessary and, if implemented, they will have a significant negative impact on the United States’ economic growth.”

    The suggested measures, according to the agency, are intended to “increase domestic steel production” to a level “needed for the long-term viability of the industry.” But this sector is already the most protected in the country, and whatever problems it has have not been caused by steel produced elsewhere. While the report cites several mill shutdowns, those facilities were closed not because of imports, but because they were antiquated and inefficient. In contrast, the CEO of one of the country’s newest steelmakers, Big River Steel – which faces the same competition from foreign companies as legacy firms – has said that, “automotive manufacturers [are] beating a path to our door” because, unlike those other manufacturers, it is not relying on decades-old technology.

    The national security foundation for the recommended tariffs and quotas is simply an unfortunate attempt to circumvent normally applicable WTO rules. If the United States chooses to abandon long-standing principles of free trade that we have helped establish, and that have contributed so much to our national prosperity, Pandora’s box will be opened, and other countries will be sure to assert “national security” reasons for protecting many other politically sensitive products from export competition. The retaliatory measures that will follow will drive up manufacturing costs, inflate prices, shrink high-value U.S. exports, and push the United States and the world toward recession.

    The report’s recommendations would reward lack of innovation, and would risk the nation’s well-being in order to benefit a few politically favored companies. We urge President Trump to protect the country from the damage that tariffs, quotas, and other restrictive measures would inflict, and reject them outright.

    Source : Strategic Research Institute
  16. forum rang 10 voda 22 februari 2018 19:42
    Liberty Steel’s Georgetown mill startup pushed to May
    Steel News - Published on Thu, 22 Feb 2018


    South Strand News reported that a group of contractors is expected to descend this week on the Georgetown steel mill to ensure that the cranes, furnaces and other equipment are ready to go for an anticipated May startup. The new startup date, Liberty House and United Steelworkers officials had been aiming for a first-quarter return to operations, comes after Liberty Steel’s managers for the Georgetown site took a closer look at the facility, which has sat essentially vacant since August 2015 when ArcelorMittal shut down operations.

    Gordon Spelich, who will oversee operations in Georgetown for Liberty Steel, said “We’ve been spending a lot of money to get the plant open.”

    Spelich has been onsite for the past month and said he's been hiring administrative staff. James Sanderson, president of United Steelworkers Local 7898, said the union has three people onsite.

    The company completed its purchase of the facility from ArcelorMittal in mid-December.

    Source : South Strand News
  17. forum rang 10 voda 22 februari 2018 19:43
    BRC Asia makes offer to buy Lee Metal Group in Singapore

    Straits Times reported that Singapore’s steel prefabrication company BRC Asia has made a pre-conditional offer to buy fellow steel player Lee Metal Group at an offer price of 42 cents for each share, or $199.3 million in total, with the aim of delisting the company. The offer price represents a premium of 9.1 per cent to Lee Metal's last traded price of 38.5 cents on Nov 10 - the last full market day before the company announced the news, on being notified by certain shareholders of an unsolicited approach to acquire their shares. The offer price is also 21.4 per cent higher than the stock's volume-weighted average price for the three-month period up to the last trading day.

    BRC Asia said the two businesses are complementary, and sees potential synergies from the acquisition. These include cross-selling an enlarged customer base, economies of scale, improvement in productivity and cost efficiency, as well as the sharing of best practices.

    The offer will also let minority investors in Lee Metal realise their investment, it added, noting that trading liquidity in the shares has been low. BRC Asia has received irrevocable undertakings from shareholders representing 48.06 per cent of Lee Metal's shares to accept the offer.

    Its controlling shareholder Esteel Enterprise, which owns 72.94 per cent of BRC Asia, has also irrevocably undertaken to vote in favour of the voluntary conditional cash offer at an extraordinary general meeting.

    Assuming full acceptance by Lee Metal shareholders, BRC will pay a total of $199.3 million, representing 62.2 per cent of its market capitalisation. The voluntary general offer will be funded by a shareholder loan from Esteel, bank borrowings and internal cash resources.

    BRC aims to delist Lee Metal, as this will facilitate management and operational control over the company and its subsequent developments.

    The offer is conditional on approval by the Competition Commission of Singapore, among others.

    BRC Asia provides just-in-time reinforcing steel solutions to the construction sector in Singapore.

    Lee Metal fabricates reinforcement steel products for the construction sector, including HDB and SMRT projects, and has a presence in Malaysia and Hong Kong too.

    Source : Straits Times
    Bijlage:
  18. forum rang 10 voda 22 februari 2018 19:44
    Work is underway on environmentally friendly cruise ship

    Work is underway on a prototype environmentally-friendly cruise ship that combines the durability of traditional materials with renewable energy technology. Whether holidaymakers enjoy relaxing on poolside deck chairs or exploring tropical islands, luxury getaways on ocean cruises are growing in popularity. Over the last 10 years, demand for cruises has risen by 68%, and it was estimated that in 2016, over 220 cruise liners carried 24 million passengers on voyages crossing the world.

    Cruising may be popular, but it’s not good for the environment. To take those 24 million vacationers across the oceans these boats have to be enormous. Some are even larger than aircraft carriers and can burn through tonnes of diesel every hour. On average, a typical ocean liner uses 225 tonnes of fuel each day, which results in a huge amount of carbon emissions being released.

    A single, large vessel produces as much carbon dioxide as 83,678 cars, and as much sulphur dioxide as 376 million cars. Emissions cause havoc for the environment, with carbon dioxide being the major gas contributing to the greenhouse effect, and sulphur dioxide being a key component of acid rain. This rainwater can make bodies of water so corrosive that entire ecosystems become uninhabitable for sea creatures and vegetation. Fortunately, growing awareness of these issues is calling people into action.

    Peace Boat is a Japanese non-profit organisation working to promote sustainable development. They run 80-100-day educational voyages that sail participants all around the world while spreading awareness of how ecosystems function and how to take better care of the environment. However, they view their current mode of transport as part of the problem they’re trying to tackle.

    Yoshioka Tatsuya, founder and director of Peace Boat said that “Unfortunately, the boat we use is just a conventional boat, so it’s not the best for the environment. I thought it was our responsibility to try to do something about that, and the Ecoship is our answer.”

    Peace Boat’s project, Ecoship, is a cruise liner with an environmentally friendly twist. The ship’s design was finalised after three years of in-depth research and development by a global team of engineers and designers. The team took inspiration from the shape of whales to design a ship hull that was more hydrodynamic. This, alongside the ship’s 10 retractable sails, 10 retractable wind turbines and 12,000 square metres of solar panels (almost the area of two football pitches) drastically reduces the volume of fuel needed to propel the ship.

    Source : World Steel
    Bijlage:
  19. forum rang 10 voda 22 februari 2018 20:02
    Chinese steel mills to ramp up output before curbs bite again

    Reuters reported that China shut down up to half of its steel production this winter in 28 cities in the country’s manufacturing heartland in the north as part of an anti-pollution campaign. With margins still encouraging full output, China’s pent-up steel production should erupt when the curbs expire on March 15.

    Because of the curbs, China’s average daily steel output in December was the lowest in a year at 2.16 million tonnes, government data showed last month. Average daily output may rise to about 2.5 million tonnes if the mills quickly boost production when the restrictions are lifted, Wang Yingsheng, vice secretary-general of the China Iron and Steel Association told an industry conference in late January.

    With the government likely to re-impose the limits next winter, northern Chinese mills will have only about eight months to run at full speed, so plants are stocking up on raw materials to maximize production while the market conditions remain strong.

    A senior manager at a steel mill in southern China said that “I think there could be restrictions again on mills in north China this year and they could increase output before the restrictions. If the market’s good, every mill will try to run at full capacity in order to make more profit.”

    Thanks to China’s infrastructure push that sustained steel demand even as the environmental crackdown cut supplies, mills are set to report massive profit gains.

    Xinjiang Ba Yi Iron & Steel in northwest China said 2017 net profit may have risen by 3,000 percent and Anyang Iron & Steel, based in Henan province, may show profit increased by up to 1,300 percent last year, according to preliminary estimates from both companies.

    Last month, Jiujiang Steel in Jiangxi province rewarded workers with 278 million yuan (USD 44 million) in 2017 bonuses. The cash weighed 3.5 tonnes and was delivered by four vans to staff at its main office, according to a company official and photos on Jiujiang Steel’s WeChat account.

    Profit margins have retreated from last year’s peaks, but are still more than enough to motivate maximum production, said the southern mill manager.

    Chinese steel margins for rebar this year are averaging 866 yuan a tonne, according to data from brokerage CLSA. While down from last year’s average of 922 yuan, rebar margins are well above the five-year average of 251 yuan. Hot-rolled coil margins are averaging 865 yuan this year versus a five-year average of 259 yuan.

    Source : Reuters
  20. forum rang 10 voda 22 februari 2018 20:04
    Posco India hit with INR 656 crore impairment loss on Odisha exit

    DNA reported that South Korean steelmaker Posco has taken INR 658.79 crore (109,248 million Korean won) impairment loss, or permanent reduction, in the value of securities of Posco-India Pvt Ltd. In a notice to shareholders on the 50th ordinary general meeting to be held on March 9, Pohang-headquartered Posco said, "During year ended December 31, 2017, the company conducted the impairment test on securities of Posco M-Tech, Posco Family Strategy Fund, Suncheon Eco Trans Co Ltd and Posco-India Pvt Ltd due to signs of impairment such as continuous business loss. As a result of the impairment test, the company has recognised W2,793 million, W12,816 million, W47,600 million and W109,248 million of impairment losses on its securities due to its carrying amount that significantly exceeded its recoverable amount."

    In 2016, Posco ascribed a book value of 184,815 million won to securities of Posco-India Pvt Ltd. By 2017-end, the book value was slashed to 75,567 million won. One South Korean won equals 0.060 Indian rupee. Hence, the 109,248 million won impairment loss translates into INR 656.78 crore.

    Impairment takes place when a firm sells or abandons a fixed asset which is no longer beneficial as the book value of the asset falls below the amount that can be recovered by selling it. Impairment normally occurs when there is a sudden and large decline in the fair value of an asset below its carrying amount, or the amount recorded on a company's balance-sheet.

    In March last year, Posco-India had requested the Odisha government to take back its 2,700-acre land provided at Paradip in Jagatsingpur district for setting up a 12-million-tonne steel project. Consequently, the state government sent a letter toPosco-India informing the land allotted to it has been cancelled. The 2005 project was billed as India's biggest foreign direct investment at that time, but it faced several delays due to a regulatory maze and protests.

    In 2005, Posco-India was incorporated to promote investment in steel, considering the high growth potential and rise of steel demand in India. In 2011, its role was expanded to act as the regional headquarter, and in 2015, its nature and role have been further extended to represent Posco group affiliates in India.

    Source : DNA
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