Cement News tagged under: Pakistan International Bulk Terminal Ltd
PIBTL handled 5,366,521t of cargo in 9MFY23-2414 May 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently announced its 9MFY23-24 financial statements for 31 March 2024, on the Pakistan Stock Exchange (PSE) website, followed by a detailed report. During the period, the demand for coal imports has revived, primarily due to measures for economic stabilisation undertaken by the government, such as lifting import restrictions, economic stability stimulated by the strengthening of Pakistani rupee against the US dollar, and increased economi... |
Pakistan International Bulk Terminal saw revenue surge by 38% in 1HFY23-2407 March 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently released its 1HFY23-24 (July-December 2023) report at the Pakistan Stock Exchange (PSX). During the period, the company earned a net profit of PKR1.056bn (US$3.78m) against incurring a loss of PKR232m in the same six months of the last fiscal year. This positive profit development was possible due to an increase in revenue to PKR8.07bn, up from PKR5.86bn during this period. The financial cost rose to PKR1.06bn and taxation also exp... |
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... |
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... |
Pakistan International Bulk Terminal Ltd seeks loan deferment20 June 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) informed Pakistan Stock Exchange (PSX) last week that it has requested the International Finance Corp (IFC) and OPEC Fund for International Development (OFID) to defer the repayment of the principal instalment of its foreign loan due on 15 June 2023. The notification from Company Secretary, Karim Bux, did not disclose the amount payable but said that the company would continue to make the interest payment by the terms of its foreign financin... |
PIBTL likely to become hub of cement/coal handling12 March 2020, Published under Cement NewsThe Directors of Pakistan International Bulk Terminal Ltd (PIBT) has released the detailed financial statements for the period ended 31 December 2019. During the period, Pakistan's only coal and clinker/cement terminal at Port Muhammad Bin Qasim has handled 44.07Mt cargo against 39.66Mt in the same period last year. It depicts a modest growth of 11.1 per cent, with consistent performance. The management of the company is focussing on strategies to increase the efficiency in cargo handling... |
PIBTL earns profit in 1HFY19-2014 February 2020, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) has announced its financial results for the half-year period ended 31 December 2019, declaring earning of net profit of PKR864m (US$5.6m) against a net loss of PKR 1.46bn in the same period last year. Its net sales during the reporting period increased by 42 per cent to PKR4.84bn from PKR3.142bn during the same period last year. The administrative and general expenses slightly increased from PKR203m to PKR217m during this accounting period... |
Pakistan Prime Minster Abbasi inaugurates PIBTL terminal at Port Qasim16 October 2017, Published under Cement NewsPakistan’s Prime Minister, Shahid Khaqan Abbasi, has inaugurated Pakistan’s first state-of-the-art mechanised, coal, clinker and cement bulk cargo handling terminal, Pakistan International Bulk Terminal Ltd (PIBTL), at Port Qasim, 55km from Karachi. Prime Minister, Shahid Khaqan Abbasi, has appreciated Captain Haleem Siddiqui, chairman of Marine Group of Companies, and his team for making the much-needed investment in a sector crucial for national development and added: "It is also all ... |
Pakistan terminal begins commercial operations06 July 2017, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBT) has started commercial operations from the country's first and only common-user coal, cement and clinker terminal at Port Qasim, near Karachi. In May the company announced that the terminal commenced hot commissioning and achieved a significant milestone by handling the first coal cargo vessel of 41,000t. PIBT has invested around US$285m to establish the state-of-the-art mechanised, coal, clinker and cement bulk cargo terminal. Under a 30-... |
Pakistan's first coal/cement terminal begins operation05 May 2017, Published under Cement NewsPakistan's first state-of-the-art coal, clinker and cement bulk terminal has commenced operations at Port Qasim, Karachi. According to a statement by Pakistan International Bulk Terminal Ltd (PIBTL), bulk carrier African Finfoot became the inaugural vessel to call at the terminal, transporting 41,510t of coal for importer and exporter Awan Trading. A second vessel named Iris Oldendorff visited the terminal on Tuesday, carrying 39,550t. PIBTL has invested around US$ 285m in the establ... |
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