Cement News tagged under: Weekly Newsletter
USG Supramax/Ultramax prices see significant drop28 September 2022, Published under Cement NewsBy Brannvoll ApS, Denmark It has been a month of negative corrections in the USG Supramax/Ultramax segment amid a growing tonnage list, as well as an absence of fresh cargo offers for spot laycans. Owners will be expected to accept lower price levels than previously on fronthaul routes. The European continent and Mediterranean basin remain the destinations of last resort for most owners and as a result, rates in that direction fell less significantly. Freight rates for transportation o... |
Kohat Cement's profit increased by 44% in FY21-2227 September 2022, Published under Cement NewsKohat Cement Co Ltd (KOHC) has announced an increase of 43.7 per cent in its profit on a YoY basis during its financial results for the year ended 30 June 2022. It reported a profit after tax of PKR5.024bn (US$21.31m) compared to PKR3.497bn earned in the year's corresponding period. The major factor responsible for the increase in profit was growth in sales. IMS Research has added that KOHC has posted impressive gross margin and operating profitability in 4Q (April-June 2022), majorly att... |
Oman Cement commissions WTE plant26 September 2022, Published under Cement NewsAs part of efforts to reduce its reliance on natural gas, Oman Cement plans to commission a waste-to-energy (WTE) plant, using shredded scrap tyres. The plant is expected to be commissioned by the end of 2022. According to Oman Daily Observer, the plant is part of a fuel diversification strategy adopted by the cement company, which is 51 per cent owned by Oman Investment Authority (OIA), to enable access to a mix of alternative, sustainable energy sources. Two years ago, Oman Environmen... |
Kenyan cement consumption grows by 18% in 1H2222 September 2022, Published under Cement NewsKenyan cement consumption grew 18 per cent in the half year ended June, driven by increased construction activities in the private sector that defied a surge in cement prices, according to Kenya National Bureau of Statistics (KNBS). KNBS reports that 4.97Mt of cement were used in the six months from 4.06Mt consumed in a similar period last year. This was achieved despite a sharp rise in the retail price of a 50kg bag of cement which has risen by KES300 (US$2.48) since March on rising cost... |
Fauji Cement more than doubles revenue in FY202222 September 2022, Published under Cement NewsPakistan-based Fauji Cement Company Ltd has reported revenue of PKR54,243m (US$227m) in the year ended 30 June 2022, compared to PKR24,271m in the same period a year earlier. Over the 12-month period, operating profit advanced from PKR5053m to PKR11,982m, while profit for the year improved from PKR3471m to PKR7112m. Earnings per share in the year ended 30 June 2022 came in at PKR3.26, up from PKR2.52 in the year ended 30 June 2021. The company’s board of directors has also approved the s... |
Makin Teguh Sdn Bhd launches Lahad Datu cement plant21 September 2022, Published under Cement NewsMakin Teguh Sdn Bhd (MTSB), in which Bornoil holds a 30 per cent stake, has opened a new cement plant, located adjacent to Borneo’s first limestone and marble quarry in Sabah, next to the Segama River. MTSB’s Lahad Datu integrated cement manufacturing plant is designed using the latest Chinese technology with great emphasis towards environmental protection and efficient energy use. It is the first integrated cement plant in Malaysia which uses renewable fuels such as heavy fuel oil deriv... |
Hoffmann Green sees 11% YoY rise in cement sales21 September 2022, Published under Cement NewsFrance-based Hoffmann Green Cement Technologies , a specialist in the production of clinker-free cement, has reported revenue of EUR544,000 in the first half of 2022, up from EUR540,000 in the same period a year earlier. EBITDA came in at -EUR3.5m in the 1H22, compared to -EUR2.6m at the end of the 1H21. According to the company, the decline in EBITDA is due to an increase in the purchasing of raw materials on the back of R&D tests and developments, and the resumption of trade fairs and sho... |
QNCC and Gord sign MoU on low-carbon products21 September 2022, Published under Cement NewsThe Qatar National Cement Company (QNCC) and Gulf Organisation for Research & Development (Gord) have signed a Memorandum of Understanding (MoU) pledging to improve efforts at promoting a more sustainable built environment, reports the Gulf Times. Under the agreement, the partners will collaborate on research, development and innovation (RDI) projects in the field of green/low-carbon building products. Apart from RDI activities, the organisations will also lead capacity building and kno... |
Adani Group to double cement production capacity20 September 2022, Published under Cement NewsThe Adani Group plans to double its cement production capacity over the next five years, according to Gautam Adani, group chairman. Speaking at an event in Mumbai to mark the closure of Adani Group’s acquisition of Holcim ’s stakes in Ambuja Cements and ACC Ltd , Mr Adani said that he expects capacity to go from the current 70Mta to 140Mta over the course of the next five years. “While India is the second largest producer of cement in the world, our per capita consumption is just 25... |
Ethiopia introduces new cement price regulation19 September 2022, Published under Cement NewsEthiopia has announced a new cement price regulation to tackle the rising cost of cement products in the country. According to the Ethiopian Ministry of Trade and Regional Integration, the factory selling price for a quintal (100kg) of cement will now be between ETB510-683.44 (US$9.50-12.74). Cement factories in Ethiopia were initially asked to make price adjustments but the prices suggested were too high, prompting the ministry to establish a task force to study the production process and ... |