Cement News tagged under: coal
Pakistan: cut in discount rate should benefit cement sector27 June 2013, Published under Cement NewsPakistan's cement sector remained the major beneficiary in the reducing interest rates scenario being one of the major leverage sectors thanks to massive allocation of Public Sector Development Program (PSDP). The cement volume growth may cross the figure of 4 per cent in FY2013-14, as the National Economic Council has approved a 32 per cent hike in PSDP allocation to PKR1155bn (US$11.7bn) in upcoming budget, with share of the federal government at PKR540bn (US$5.5bn) and provincial share ... |
Emerging markets continue to play key role in global energy prices15 February 2013, Published under Cement NewsWith a sluggish US economy where the fiscal cliff remains a major concern in 1H13 and a recession-hit Eurozone burdened by unaffordable energy import costs, it is clear that most support for global oil demand hinges on the consumption of emerging markets. The economic benefits of globalisation, urbanization and industrialization have led to major advances in productivity, positively impacting on oil demand in these parts of the world. As the world oil demand improves gradually, non-OPEC s... |
Pakistan invites Expressions of Interest for new coal terminal18 December 2012, Published under Cement NewsThe Karachi Port Trust (KPT), which operates under Pakistan’s Ministry of Ports and Shipping, is inviting expressions of interest (EOI) to develop a dedicated coal terminal on a Build on Transfer (BOT) basis. The port authority is inviting consortiums of financial, legal and technical consultants/firms, to provide services to help it develop the terminal. The last date for receiving the EOI is 15 January 20 13. An official of the KTP told CemNet news that the new terminal will be used ... |
China Resources Cement to sign coal agreement14 December 2012, Published under Cement NewsChina Resources Power said it agreed to supply coal to China Resources Cement with a term of three years from 1 January 2013 to 31 December 2015. According to local press, the unit price of coal will be negotiated on an "arm's length" basis between the parties with regards to the prevailing market prices of coal and the quantity of coal will be decided according to the demand of CR Cement Group. |
India: cement firms hit by high coal prices07 December 2012, Published under Cement NewsInput cost pressures for cement manufacturers have lately been rising due to international coal prices gaining 4% MoM in December, 2012 to average US$90.8/t in the first week of December coupled with 0.6% rupee depreciation against the dollar during the same period, says a Shajar Capital research note. As of 30 November 2012, Richards Bay Coal (FOB) stood at Us$89.8/t while Newcastle stood at US$87.1/t according to an AKD Securities research note. In this regard, with exports slowing dow... |
Udaypur Cement halts production, India30 November 2012, Published under Cement NewsThe Udaypur Cement factory in India has halted operations since last week because coal deliveries have been stopped, according to local press reports. The Himalayan newspaper has reported that the shutdown occurred after importers stopped supplying coal over late payments. Mona Lisa Enterprises and Divyashree Construction Service, the two coal importers for the industry, said they had stopped providing coal as they were yet to receive INR20m in payments. Meanwhile, the factory’s Seni... |
Indian government deallocates coal blocks19 November 2012, Published under Cement NewsIndia’s Ministry of Coal has issued deallocation letters for eight coal blocks, putting into action a recent decision by the Inter-Ministerial Group. Government has issued letters for at least eight coal blocks given to a single company or jointly,” ministry sources said. Companies affected by the measure include cement producers Grasim, Gujarat Ambuja Cement and Lafarge. The Bhaskarpara coal field was allocated to Grasim Industries while Gujarat Ambuja and Lafarge were previously awarde... |
Oracle signs MoU with Thatta for coal supply, Pakistan12 November 2012, Published under Cement NewsOracle Coalfields PLC, the UK coal developer of a lignite mineral property located in the southeastern desert of the Sindh Province, Pakistan, signed a Memorandum of Understanding (MoU) with Thatta Cement Company Ltd for the proposed supply of coal from the mine that Oracle is developing in Block VI of the Thar Coalfield. The MoU, which is between Oracle’s 80 per cent-owned subsidiary Sindh Carbon Energy Limited and Thatta, will see Oracle supply dried coal to Thatta’s cement works. The rep... |
Muger Cement Enterprise plans coal conversion project, Ethiopia10 October 2012, Published under Cement NewsEthiopia’s Muger Cement Enterprises is considering proposals from two Chinese suppliers to award a turnkey project for converting the current Heavy Fuel Oil (HFO) clinker burning system to coal fired system. Declining to disclose the names of the companies, Mekonnen Zergaw, CEO of the Enterprise told Fortune that five companies had participated in the bid, of which one has been disqualified at the beginning while two companies did not pass the technical evaluation. The government instructe... |
BAML sees 4Q2012 crude prices strengthen01 October 2012, Published under Cement NewsA tightening market for oil sees upward pressure on prices while gas is expected to remain range-bound. The thermal coal glut is expected to need some time to improve, leaving prices at a low. Oil Although indications are for a weak recovery in the global economy, the emerging markets lead the way in improving momentum, creating demand for real assets such as oil. Meanwhile, spare productive capacity in the oil market remains low, making for a tight supply side. Outages in the Nort... |