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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 24,120 14 mei 2024 17:35
  • +0,170 (+0,71%) Dagrange 23,990 - 24,340
  • 2.279.793 Gem. (3M) 2,5M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 883 884 885 886 887 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 5 november 2018 16:47
    thyssenKrupp new CEO Guido Kerkhoff may get a splitting headache

    Handels Blatt reported that Mr Guido Kerkhoff is racking up air miles these days. Since becoming ThyssenKrupp CEO four weeks ago, he has visited company sites on three continents, explaining to staff why the company will soon split into two entirely separate firms. Unlike his charismatic predecessors, Mr Kerkhoff is unaccustomed to the spotlight. He projects the image of a modest figure, who enjoys a beer after work and collects Volkswagen camper vans.

    Investors and employees are asking whether the new boss has what it takes to lead ThyssenKrupp. “Hard work is not enough,” one senior manager told Handelsblatt: “Kerkhoff has to show real leadership qualities.”

    Mr Kerkhoff was previously ThyssenKrupp’s CFO and was not the board’s first choice as CEO. After the resignation of predecessor Heinrich Hiesinger in early July quickly followed by that of the supervisory board chair an embarrassingly large number of potential successors turned the job down. So the board eventually decided to make Kerkhoff’s interim appointment a permanent one.

    Born in a small town in Lower Saxony, as a boy Mr Kerkhoff helped out at his parents’ gardening business. But he had bigger ambitions, going on to become the first in his family to graduate from university, where he studied business.Always adept at reading a balance sheet, his first appointment was as a controller at a regional utility. A year later, he moved to publisher Bertelsmann, a much larger company with a global reach.

    Mr Kerkhoff traveled the world for the publishing conglomerate, poring over the accounts of magazine publishers and record companies. Not quite a glamorous position: His closest encounter with fame was sharing an elevator with a well-known hip-hop star. He met his wife, also an accountant, while both were doing due diligence on a Bertelsmann takeover target.

    He is aware that the CEO job is quite a different proposition than his previous roles, not least the responsibility to lead from the front. It will not be easy: He must oversee a split into two completely separate entities, ThyssenKrupp Industrial and ThyssenKrupp Materials, while also improving returns for long-suffering investors.

    The transformation will take two years to complete, and there is no guarantee of success. “Kerkhoff will need to fight his corner, in order to be taken seriously by staff and shareholders,” one high-ranking manager told Handelsblatt. Above all, he cannot shirk a fight: Costs will have to be cut ruthlessly, and many heads will have to roll.

    Source : Handels Blatt
  2. forum rang 10 voda 5 november 2018 16:47
    MMK comments on the market situation

    At the moment, the Company sees a stable demand for steel products in its sales markets, which secures high capacity utilisation at the main facilities and is supported by the growth of global steel consumption and a program to reduce production capacity in China.

    The Company's financial results for Q4 2018 will be affected by the decrease in global steel prices and seasonal correction in the domestic market, against a backdrop of stabilising prices for key raw materials.

    Source : Strategic Research Institute
  3. forum rang 10 voda 5 november 2018 16:49
    MMK announced key consolidated results for Q3 and 9M 2018

    Record EBITDA, Growing free cash flow,
    Dividend at 100% of FCF

    1. EBITDA for Q3 2018 amounted to USD 671 mln, up 3.2% quarter-on-quarter (q-o-q), –the highest in the Company’s history. The EBITDA margin increased to 32.1%.

    2. Free cash flow for Q3 2018 was up 28.8% on Q2 2018 and amounted to USD 362 mln.

    3. Profitability growth and high liquidity indicators allowed the Board of Directors to recommend a divided payment of RUB 2.114 per ordinary share. The total dividend
    payout for the quarter will amount to USD 362 mln (100% of FCF for Q3).

    This report is prepared in accordance with International

    Q3 2018 highlights vs Q2 2018
    The decrease in revenue for Q3 2018 is due to the fall in the average sale price of finished products against a backdrop of a decreasing share of products with a higher added value.

    In Q3 2018, the cost of sales decreased at a faster rate q-o-q than revenue, mainly due to the stabilised price of key raw materials on the domestic market amid the ruble weakening against the US dollar.

    As a result, EBITDA increased by 3.2% on the previous quarter, delivering an EBITDA margin of 32.1%

    Quarterly profit amounted to USD 401 mln. One-off factors that had an impact on profit include a minor positive FX effect of USD 3 million.

    FCF increased to USD 362 million. The growth on the previous quarter was due to increased operating profitability and reduced capital investments.

    9M 2018 highlights vs 9M 2017
    Revenue grew 11.7% year-on-year (y-o-y). This was due to a retention of sales volumes against a backdrop of an increase in average sales prices by USD 76 per tonne, or 13.5%.

    In 9M 2018, EBITDA grew 30.6% y-o-y, while EBITDA margin exceeded 30%. This significant growth in EBITDA was due to finished product prices growing faster than raw materials prices, as well as an improved sales mix.

    FCF for the period grew 36.3% y-o-y, amid favourable conditions in the Company’s key markets, sustainably high steel prices, and continued growth in operational efficiency.

    Voor meer cijfers, zie pdf

    Source : Strategic Research Institute
    Bijlage:
  4. forum rang 10 voda 5 november 2018 16:53
    US steelworkers union reaches 4-year contract agreement with ArcelorMittal

    Chicago Tribune reported that United Steelworkers has reached a tentative 4-year agreement with ArcelorMittal on contracts covering about 15,000 USW members, more than 7,400 of whom work at the steel giant's mills in Indiana Harbor and Burns Harbor. The tentative agreement still needs to be ratified by its members. Mr Pete Trinidad president of USW Local 6787 in Chesterton and a member of the union negotiating team said that "We got what we needed to be successful. It's a fair contract for us and what we believe will leave the company in a profitable position.”

    Trinidad said the tentative agreement includes a 14 percent wage increase for members stretched over the four years, a $4,000 bonus to be paid upon ratification and no changes in profit sharing.

    Mr Trinidad said that "Members should see a profit-sharing check around Nov. 14 or 15.”

    He said the new contract, if ratified by members, would include some enhancements to healthcare, no increase in premiums for retirees and their dependents and there would continue to be no premiums for active workers.

    It also includes a commitment by the company to invest more than $3 billion in its US facilities over the next four years.

    In a statement released Friday, the USW said the proposed agreement mirrors the industry standard on wages, lump-sum payments and pensions.

    Mr John Brett, president and CEO of ArcelorMittal USA said that “We are pleased to have a new, tentative agreement with our partners at the USW and believe we have reached a fair and positive outcome for all parties involved without disruption to our business operations. We are unable to comment on specific details out of respect for the ratification process. We extend our appreciation to our employees, customers and the community for their patience and commitment during the negotiation process.”

    Source : Chicago Tribune
  5. forum rang 10 voda 5 november 2018 16:54
    GMS Market Commentary on shipbreaking in Week 44 - FRANTIC FOURTH QUARTER FINALE!

    The supply of tonnage, particularly in the beleaguered tanker and container sectors, continued at pace this week, amidst another mixed showing from the local markets. There seems to be a greater degree of Cash Buyer speculation brewing than there is actual appetite for tonnage from the various markets. India cooled off once again this week, with some ongoing / worrying reversals in local steel plate prices, Pakistan steel prices also tumbled dramatically (to the tune of about USD 15/LDT in the course of a day and about USD 23/LDT overall decline) and the appetite in Bangladesh is showing increasing signs of waning (as predicted last week) after a stunning fourth quarter rally on prices there and a massive collection of fixtures this week.

    The currency in India also remains on shaky ground having depreciated alarmingly over the past month or so (and once again this week) as most end Buyers are now expecting / fearing a much softer end to the year as a result.

    All of this makes much of the ongoing Cash Buyer speculation into the high USD 400s/LDT (particularly on the multitude of smaller LDT containers committed recently) somewhat puzzling as it increasingly seems as though local markets will be unable to match some of these speculative numbers for much longer and certain Ship Owners and Cash Buyers could be left holding the bag with some over-priced inventory.

    Owners may therefore be faced with the prospects of chasing down the market as Diwali holidays approach in India and a traditional breather from the frantic fourth quarter action is expected to therefore logically ensue.

    Source : GMS Weekly
  6. forum rang 10 voda 5 november 2018 16:55
    NMDC to outsource Raw Material Handling System operations at Nagarnar Steel Plant

    Daily Pioneer reported that NMDC Ltd will be outsourcing operation and maintenance of Raw Material Handling System (RMHS) for a period of two years at its upcoming 3.0 MTPA Integrated Steel Plant at Nagarnar near Jagdalpur in Chhattisgarh. The first batch of production of various products from NMDC Ltd’s upcoming 3 MTPA Nagarnar Steel Plant in Bastar may commence soon as the company as already floated tender for supply, transportation, loading, unloading of 97,803 MT Limestone for Sinter Plant.

    NMDC has already placed order for procurement of the first consignment of coking coal, officials informed.

    The company will put all its efforts to roll out the first HR coils from its upcoming 3 MTPA Nagarnar Steel Plant in Bastar by March 2019, officials informed.

    The progress of construction activities of steel plant in the year 2017-18 is noticeable in various fronts, they informed. At present, progress of civil work, structural and equipment erection are at an advanced stage and progressing in full swing.

    The steel plant project is getting ready for its commissioning of various units progressively, for which operational power supply system is already energized during first week of March 2018, they informed.

    In order to facilitate the commissioning activities of steel plant, procurement action for initial requirement of various raw materials, spares, consumables, etc., are also under process.

    The company had also started the 220KV GIS (Gas Insulated Switch) Main Receiving Sub-station, followed by Power supply to the Sinter Plant. Subsequently, as per schedule, power will be stepped down to 33KV and conducted to the 11 sub-stations that will distribute power to different units of the steel plant by the Plant Power Distribution System (PPDS) through overhead cable gallery system.

    Source : Daily Pioneer
  7. forum rang 10 voda 5 november 2018 16:55
    Government to examine allegation of low quality steel rebars - Minister

    PTI reported that Steel Minister Chaudhary Birender Singh said that the central government will look into the allegation of low quality steel being pushed into the market. He told reports that "The ministry will examine the matter. While inspecting, we find the products are meeting the Bureau of Indian Standards (BIS) norms. Therefore, the entire lot should be of that quality. I have already taken up the matter with the Steel secretary and talked to him. BIS is not under our ministry, but they abide by the standard given by us.”

    The minister, however, trashed reports that the entire lot of 26 TMT bar brands is of low quality. He told "I don’t believe such news reports. I understand the media report is sweeping. I also do not admit that the entire lot has failed to meet BIS norms.”

    Source : PTI
  8. forum rang 10 voda 5 november 2018 16:56
    Liberty House misses deadline to pay Amtek & Adhunik lenders - ET

    ET, citing three people with direct knowledge of the development, reported that Liberty House has missed the deadline to pay local lenders of auto components company Amtek Auto and Adhunik Metaliks to purchase them under the Insolvency and Bankruptcy Code. ET quoted a person, close to the Liberty House, as saying that "There are several disputed court cases in the insolvency tribunals like NCLT/NCLAT that need to be resolved before these deals can be completed and other formalities like the approval of the Competition Commission of India. There are long stop dates agreed between the resolution professional and committee of creditors and Liberty House and this is now a race to complete all matters before these dates.”

    However, another person with direct knowledge of Adhunik Metaliks resolution plan countered saying there was no condition precedent in Liberty House’s resolution plan that asked for ongoing arbitration against the asset to end before it could pay the required amount. He said “Liberty House had laid down a time period of two months in the resolution plan to pay off the dues. The buyer has not paid the resolution professional about INR 40 crore, which included the costs related to electricity, delayed wages of employees, payment due to operational creditors, fees of the resolution professional as well as legal charges.”

    The UK-based Indian entrepreneur Mr Sanjeev Gupta-led Liberty House had won both assets in July and was expected to pay lenders INR 4,810 crore by October, according to the resolution plan agreed between the lenders and the buyer.

    After it won bids to purchase Amtek Auto and Adhunik Metaliks, Liberty House’s parent, GFG Alliance, had appointed former Vedanta CEO Mahendra Singh Mehta as its India head to oversee its Indian strategy.

    Source : ET
  9. forum rang 10 voda 5 november 2018 16:57
    Nippon Steel & Sumitomo Metal Corporation relining of No 2 BF of Hokkai and refurbishing of No 3 Coke Oven of Nagoya

    Nippon Steel & Sumitomo Metal Corporation (NSSMC) has decided to reline the No. 2 Blast Furnace of Hokkai Iron & Coke Corporation that has the pig iron facilities in NSSMC’s Muroran Works, and to refurbish the No. 3 Coke Oven of Nagoya Works (including change of the furnace type), as part of its major initiatives of “Continuing to strengthen ‘manufacturing capabilities’ of domestic mother mills,” as featured in the 2020 Mid-Term Management Plan. NSSMC will continue to reinforce “facilities” by introducing the latest domestic/foreign technologies including advanced IT and increase the efficiency such as stable production, productivity improvement, and cost improvement, etc.

    Outline of relining No 2 Blast Furnace of Hokkai Iron & Coke Corporation
    1. Furnace capacity - 3,014 m3 (Currently 2,902m3)
    2. Repair period - Second half of 2020 CY (plan)
    3. Investment - Approximately JPY 35 billion
    4. Construction - NIPPON STEEL & SUMIKIN ENGINEERING CO LTD and others
    5. Others - The current blast furnace started operation in November 2001

    Outline of refurbishing No 3 Coke Oven of Nagoya Works
    1. Capability - 800,000 tons per year (84 coke oven chambers)
    2. Resumption of operation - First half of 2021 FY (plan)
    3. Investment - Approximately 57 billion yen (including fixtures and fittings)

    Source : Strategic Research Institute
  10. forum rang 10 voda 5 november 2018 16:57
    SAIL declares more than INR 550 crore profit in Q2

    Steel Authority of India Ltd declared a profit (Profit After Tax – PAT) of INR 553.69 Crore during the second quarter of this financial year Q2 FY19. During the corresponding period over last year, the Company had posted a loss (after tax) of INR 539.06 Crore. Over the previous quarter in Q1 FY19, the Company’s profit rose 2.5% in Q2 FY19. The turnover in Q2 FY19 was INR 16,541 Crore, a 23% rise over CPLY and 5% rise over the Q1 FY19. Showing overall improvements including operational performance, the EBITDA for Q2 FY19 at INR 2,473.54 Crore improved 156% over CPLY which was INR 966.56 Crore. The numbers indicate a fast recovery in the Company’s profitability, operational performance and a collective effort towards driving the full advantage of modernization and expansion.

    SAIL, emphasizing on bringing predictability and stability in operations and focussing to raise volumes, is bringing transformative changes across all its functions. While ramping up production from new units, achieving the production and techno-economic targets remain the top priority of the Company. In Q2 FY19, the Company’s saleable steel production stood at 3.537 million tonnes. In H1 FY19 (April – September 2018) the saleable steel production at 7.151 million tonnes rose 4.2% over CPLY. The Company recorded improvement in Coke Rate by 1% in H1 FY19 over CPLY and best ever H1 production through concast route at 6.575 million tonnes, a 7% rise over CPLY.

    Chairman, SAIL Mr Anil Kumar Chaudhary said that raising volumes, targeting to operate at rated capacities and focussing to meet the requirement of the Railways in terms of Rails and Wheels & Axles are our foremost priorities, along with upholding safety practices at the core. He said “The domestic steel market is offering a positive platform; besides, we must also de-risk our operations from any externalities by being prepared with volumes, value additions and quality products. SAIL’s focus on approaching the market and customers with new products and sales force effectiveness will surely help catering the market requirements more adequately.”

    Source : Strategic Research Institute
  11. forum rang 10 voda 5 november 2018 16:59
    Nippon Steel & Sumitomo Metal H1 net profit up

    Nippon Steel & Sumitomo Metal Corp reported that its first-half profit attributable to owners of parent climbed 42.5% to JPY 141.28 billion from JPY 99.15 billion in the prior year. Meanwhile, operating profit declined 13.3% to JPY 86.71 billion from JPY 100 billion in the prior year. Consolidated net sales for the quarter rose 5.8 percent to JPY 2.90 trillion from JPY 2.75 trillion last year. NSSMC said “In the Steelmaking and Steel Fabrication segment, domestic steel demand continued to be firm, especially shipments to the automotive and industrial machinery sectors. Overseas steel demand as a whole was on a rising trend. In the domestic and overseas steel markets, prices were at a generally high level against a background of solid demand. In such an environment, NSSMC increased sales compared to the first half of the previous fiscal year and continued its efforts to improve costs and secure appropriate sales prices to ensure continuity of supply. These efforts included adjusting steel product prices to reflect rises in prices of auxiliary materials, such as scrap and alloy, other material procurement costs, and distribution costs. However, heavy rainfall, typhoons, and other natural disasters and a difference in inventory valuation by NSSMC and its Group companies caused profit to be almost flat year-on-year. The Steelmaking and Steel Fabrication segment recorded net sales of JPY 2,557.0 billion and ordinary profit of JPY 126.6 billion.”

    Zie ook pdf.

    Source : Strategic Research Institute
    Bijlage:
  12. forum rang 10 voda 5 november 2018 17:00
    ArcelorMittal reaches agreement with Liberty House for European assets

    ArcelorMittal announced that it has received a binding offer from Liberty House Group for the acquisition of ArcelorMittal Dudelange (Luxembourg) and the following finishing lines at ArcelorMittal Liège (Belgium): hot dipped galvanising lines 4 and 5 in Flemalle; and hot-rolled pickling, cold rolling and tin packaging lines in Tilleur. The assets are the final part of a divestment package the Company agreed with the European Commission during its merger control investigation into the Company’s acquisition of Ilva S.p.A. The group has struck a conditional agreement to buy the Flemalle and Tilleur sites which employ a total of around 700 people near Liege, Belgium and the circa 300-people Dudelange, Luxembourg facility. The three mills, serving the construction, industrial and automotive markets, have a combined annual manufacturing capacity of 2.1 million tons of cold rolled steel, 2 million tons of galvanised steel, and 200 Ktons of tin plated steel.

    The announcement closely follows the statement last month (12th October) that Liberty had reached conditional agreement with ArcelorMittal to acquire major integrated works at Galati in Romania and Ostrava in the Czech Republic, along with mills at Skopje in Macedonia and Piombino in Italy.

    Both deals are subject to approval by the European Commission and other local processes including the conclusion of information consultations with local and European Works Councils.

    Referring to the plants in Belgium and Luxembourg, executive chairman of the GFG Alliance Sanjeev Gupta said that “These are high quality, landmark assets with skilled and experienced workforces that we are looking forward to welcoming into the worldwide GFG fold. Our aim will be to develop close working relationships with respective governments, trade unions and other local stakeholders in Belgium and Luxembourg to optimise and improve the value of these historic assets that are important for the regional and national economies.”

    Source : Strategic Research Institute
  13. forum rang 10 voda 5 november 2018 20:41
    Trump Trade War - US steel prices have risen by 11pct

    NWI TIMES reported that the Section 232 tariffs imposed earlier this year have helped boost steel prices, restoring steelmakers to profitability and even prompting US Steel to start hiring again. Business Forward Inc. found in its latest American Steel Index that US steel prices have risen 11 percent since February, the last month before the administration imposed the across-the-board tariffs of 25 percent on most foreign-made steel. The price of hot-rolled steel has increased by 13.5 percent, while cold-rolled steel prices have risen by 8.9 percent.

    Domestic buyers of steel such as automakers and appliance manufacturers are paying roughly 1.8 percent more on average for hot-rolled and cold-rolled steel.

    As a result of the tariffs, which make foreign steel costlier to buy, the market share of imports has fallen to 24 percent this year, dropping to as little as 20 percent in September, according to the American Iron and Steel Institute.

    Imports hit a record high of 29 percent market share during the depth of the steel crisis in 2015, when tens of thousands of steelworkers were laid off and mills were idled across the country.

    But now prices are up and so is volume, with US production up by 5 percent so far this year, according to the American Iron and Steel Institute.

    Source : NWI TIMES
  14. forum rang 10 voda 5 november 2018 20:42
    SAIL declares more than INR 550 crore profit in Q2

    Steel Authority of India Ltd declared a profit (Profit After Tax – PAT) of INR 553.69 Crore during the second quarter of this financial year Q2 FY19. During the corresponding period over last year, the Company had posted a loss (after tax) of INR 539.06 Crore. Over the previous quarter in Q1 FY19, the Company’s profit rose 2.5% in Q2 FY19. The turnover in Q2 FY19 was INR 16,541 Crore, a 23% rise over CPLY and 5% rise over the Q1 FY19. Showing overall improvements including operational performance, the EBITDA for Q2 FY19 at INR 2,473.54 Crore improved 156% over CPLY which was INR 966.56 Crore. The numbers indicate a fast recovery in the Company’s profitability, operational performance and a collective effort towards driving the full advantage of modernization and expansion.

    SAIL, emphasizing on bringing predictability and stability in operations and focussing to raise volumes, is bringing transformative changes across all its functions. While ramping up production from new units, achieving the production and techno-economic targets remain the top priority of the Company. In Q2 FY19, the Company’s saleable steel production stood at 3.537 million tonnes. In H1 FY19 (April – September 2018) the saleable steel production at 7.151 million tonnes rose 4.2% over CPLY. The Company recorded improvement in Coke Rate by 1% in H1 FY19 over CPLY and best ever H1 production through concast route at 6.575 million tonnes, a 7% rise over CPLY.

    Chairman, SAIL Mr Anil Kumar Chaudhary said that raising volumes, targeting to operate at rated capacities and focussing to meet the requirement of the Railways in terms of Rails and Wheels & Axles are our foremost priorities, along with upholding safety practices at the core. He said “The domestic steel market is offering a positive platform; besides, we must also de-risk our operations from any externalities by being prepared with volumes, value additions and quality products. SAIL’s focus on approaching the market and customers with new products and sales force effectiveness will surely help catering the market requirements more adequately.”

    Source : Strategic Research Institute
  15. forum rang 10 voda 5 november 2018 20:44
    ArcelorMittal’s Essar Steel win spells loss for Gujarat - Report

    Mint, citing two senior officials close to the development, reported that the Gujarat government is set to lose as much as INR 1,150 crore if the dedicated bankruptcy court upholds the committee of creditors’ recommendation to accept the resolution plan of ArcelorMittal to acquire Essar Steel Ltd. The sources said “These dues are classified as operational creditors and ArcelorMittal’s proposal has not made any provision for payment to such creditors.”

    Essar Steel owes about INR 1,150 crore to a clutch of Gujarat government companies including INR 872 crore to Gujarat Energy Transmission Corp Ltd. According to details of the resolution plan listed by the Resolution Professional on Essar Steel’s website, the dues pertain to various agencies of the Gujarat government including collector of electricity duty and state maritime regulator, sales tax department and local authorities.

    ArcelorMittal’s resolution plan envisages upfront payment of INR 42,000 crore to lenders and additional INR 8,000 crore towards capital expenditure. According to the Insolvency and Bankruptcy Code, secured financial creditors will receive the highest priority, followed by unsecured financial creditors. If any amount is left out of the resolution amount, it will accrue to operational creditors. The issue of excluding operational creditors has been an issue of debate.

    Source : Mint
  16. forum rang 10 voda 6 november 2018 17:00
    Philippines steel group defends furnace technology

    Manila Standard reported that Philippine Induction Smelting Industry Association defended the advantages of using the Induction Furnace Smelting Technology, or IFST, in the manufacture of steel bars. The local steel smelting group is composed of Melters Steel Corp, Real Steel Corp, Wan Chiong Steel Corp, Metrodragon Steel Corp and Davao Mighty Steel Corp.

    Former Senator Ms Nikki Coseteng, who has backed up the group, said earlier there appears to be a lack of appreciation in terms of this new technology, which is the Induction Furnace Smelting Technology, or IFST. She said that “As you see, this is the more advanced technology, which in fact, minimizes air pollution and in fact, even lowers electricity cost. This technology was developed over a decade ago in Germany and Italy, (and) is also being used by steel smelters in the Asean region, India, Middle East, Africa, China, Japan, Taiwan and some European countries.”

    Source : Manila Standard
  17. forum rang 10 voda 6 november 2018 17:00
    GMS Market Commentary on Shipbreaking in Bangladesh in Week 44 - CAPACITY CONCERNS?

    After a recent flurry of fixtures of all shapes and sizes, the Bangladeshi market continues to appear increasingly muted, given the massive supply of a variety of vessels over the recent few weeks. Although containers have been the overall flavor of late with over 10 units sold with a Bangladeshi resale in mind (7 from one owner alone!) and this looks set to continue as 2018 nears its end, particularly with India and Pakistan so inert at present. The swelling worry is just how long the Bangladeshi market will remain as the market leader, with local resales, capacity and demand looking increasingly tight, especially if the current hectic activity continues. Even local steel plate prices took a tumble, falling about USD 5/Ton during the course of the week.

    On the sales front, a plethora of containers were fixed with a potential Bangladesh delivery in mind.

    To start with, 5 containers were committed on an en bloc basis as the THANLWIN STAR (6,547 LDT), the SENTOSA STAR (5,307 LDT) ANDAMAN STAR (7,050 LDT) PATHEIN STAR (6,660 LDT) and the ATLANTIC STAR (7,624 LDT) were all sold at a firm USD 448/LT LDT basis an ‘as is’ Singapore delivery. Additionally the BELLA J (8,186 LDT) was committed at a strong USD 455/LT basis an ‘as is’ Hong Kong delivery (the location of which also makes her a near certain Bangladeshi redelivery).

    Finally, undertow FSO INTAN (29,800 LDT) was reportedly committed to Cash Buyers basis delivery all sub-continent locations in Buyers choice. However, with such a firm offering for a large LDT undertow unit can only indicate a Bangladesh option.

    Source : GMS Weekly
  18. forum rang 10 voda 6 november 2018 17:01
    GMS Market Commentary on Shipbreaking in Turkey in Week 44 - WOE BE THE LEVELS!

    Turkey’s largely unchanged price offerings have been the source of a lot of the local buyers frustrations and their inability to purchase tonnage. Even though local steel plate prices recorded a marginal improvement against the U.S. Dollar this week (by about USD 5/MT) and the Turkish Lira improved to well below TRY 5.50 levels against the U.S. Dollar, the markets have not seen a corresponding price increase.

    As such (and as has been par for the course for much of the year), local fixtures have been restricted to a diet of small LDT tonnage and offshore units intended for strictly green recycling.

    Source : GMS WEEKLY
  19. forum rang 10 voda 6 november 2018 17:01
    Jobs at risk as British Steel proposes closure

    EDP24 reported that thirteen jobs are proposed to be cut at British Steel’s Brandon site only a month and a half after the company promised no sites would close as part of a ‘streamlining’ process. Sites at Brandon and in Hull are both part of closure proposals going through consultation, with 19 jobs in total on the line. The Brandon site is a one of British Steel’s metal centres which sell smaller quantities of steel to the industry, and is the only site in East Anglia.

    Should the closure go ahead, businesses in the region will have to purchase goods from the company’s bases in Wolverhampton and Teesside.

    In September, British Steel said 400 jobs would be lost throughout the UK, Ireland, France and the Netherlands as part of its “streamlining process”.

    At the time, the company said that “No closures are being considered as part of the process.”

    Asked about the potential closure of the Brandon site, a British Steel spokesman said that “We’ve put forward a proposal to strengthen the overall service we provide to our metal centre customers across the UK by consolidating some of our operations. Our proposal, which forms part of our recently announced streamlining to ensure the long-term growth of our business, would see our site in Brandon close with the loss of 13 roles. A consultation period has started and we’ll offer our full support to those affected.”

    He added that “We remain committed to supplying steel throughout the UK and Ireland, and in the Brandon area. The proposed closure of our Brandon Metal Centre would see customers in the Brandon and East Anglia areas being supplied through our operations in Wolverhampton and Teesside. It’s important we broaden our customer base and product range and ensure our customers – current and new – get the quality services and products they rightly expect. Consolidating our operations would enable us to do this.”

    Source : EDP24
  20. forum rang 10 voda 6 november 2018 17:02
    Iron and Steel Company opens new iron bars factory in Misurata

    Libya Observer reported that the "rolling" factory No (2) for iron bars of the Libyan Iron and Steel Company was opened in Misurata, with a production capacity of 800 thousand tonnes per year of reinforcing steel. An official opening ceremony was held in the presence of Deputy of the Presidential Council, Ahmed Maiteeq, Chairman of the Board of Directors of the Iron and Steel Company, Mohammed al-Faqih, city members from the House of Representatives (HoR) and the High Council of State (HCS), the Mayor of Misurata, and the Consul General of the State of Turkey.

    Mr Maiteeq praised the efforts exerted to complete this important project, which will contribute to development of the national economy, as he said.

    Source : Libya Observer
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