Eurobench.com

voda 19 augustus 2014 16:15

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BHP Billiton boekt 23% hogere nettowinst 2013 - 2014

SYDNEY (Dow Jones)--BHP Billiton ltd (BHP) heeft in zijn gebroken boekjaar 2013 - 2014 een 23% hogere nettowinst geboekt, meldt het concern dinsdag tijdens de presentatie van zijn jaarresultaten.

Daarnaast presenteerde 's werelds grootste mijnbouwer zijn plannen voor de oprichting van een nieuw concern waarin het onder andere zijn nikkelmijnen en aluminiumsmelterijen zal onderbrengen. Het nieuw op te richten bedrijf zal een notering krijgen aan de Australische beurs.

BHP rapporteerde over het afgelopen boekjaar een 23% hogere nettowinst van $13,83 miljard, vanwege een hogere ijzerertsproductie in het westen van Australie en kostenbesparingen. Vooraf door Dow Jones Nieuwsdienst geraadpleegde analisten rekenden op een nettowinst van $13,86 miljard.

Het concern herziet zijn strategie om zich te concentreren op de productie van ijzererts, koper, cokeskolen en aardolie. Daarbij hoort de spin-off van een verzameling van activa die tot voor kort de winst drukten.

Het concern meldde dinsdag een bedrijf te creeren om zijn aluminium en mangaan activiteiten in onder te brengen, plus eventuele mijnbouwactiva, waaronder zijn Cerro Matoso nikkelmijnen in Colombia en de Cannington mijnschacht in Australie, waar zilver, lood en zink worden geproduceerd. In het nieuwe bedrijf zullen ook de thermische koolactiviteiten van het bedrijf in Zuid-Afrika en de cokeskool activiteiten in de Illawarra ten zuiden van Sydney ondergebracht worden.

BHP kreeg veel van de activa in handen na de overname van het Britse Billiton plc in 2001. De spin-off-plannen weerspiegelen de nieuwste verschuiving binnen de mijnbouwsector in zijn geheel naar een minder gediversifieerde portefeuille, vanwege een scherpe terugval van de prijzen van veel grondstoffen.

BHP meldt de spin-off naar verwachting in de eerste helft van 2015 af te ronden.

BHP meldde dat de nettowinst werd versterkt door een hogere ijzerertsproductie, ter compensatie van de dalende inkomsten uit koper, aardolie en steenkool. Het management van het bedrijf verwacht de productie van ijzererts in het huidig boekjaar opnieuw te verhogen, met name in Australie, ondanks de zorgen onder sommige beleggers dat de vraag zal achter blijven bij het wereldwijde aanbod.

Het concern verhoogde zijn slotdividend met 5% tot $0,62 per aandeel.

Door Rhiannon Hoyle; Vertaald en bewerkt door Patrick Buis; Dow Jones Nieuwsdienst +31-20-571-52-01; patrick.buis@dowjones.com

voda 19 augustus 2014 16:27

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'Aperam blijft kampen met overcapaciteit'

DINSDAG 19 AUGUSTUS 2014, 10:19 uur | 430 keer gelezen

AMSTERDAM (AFN) - Roestvrijstaalbedrijf Aperam zal de komende tijd blijven kampen met overcapaciteit en prijsdruk door de import van Aziatische rivalen. Dat schrijft ING in een rapport over het bedrijf dat dinsdag uitkwam.
ING stelt wel dat het Europese onderzoek naar Aziatische dumppraktijken mogelijk een positief effect zal hebben voor Aperam. ING gaf aan dat de voorraden in Europa worden opgebouwd tot “normalere” niveaus.

Verder is de bank van mening dat de kredietwaardering van Aperam kan worden verhoogd dankzij de betere kasstroom, de hogere winstmarge en de dalende schuld.

Het advies van ING is hold (voorheen restricted). Het aandeel Aperam noteerde dinsdagochtend om 10.05 uur 1,7 procent hoger op 24,27 euro.

voda 19 augustus 2014 16:42

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Misery deepens in Chinese steel market in 2014

Chinese steel industry has never been devoid of calisthenics owing to its sheer size of demand and supply which singlehandedly changes the course of global steel market. Steel demand has failed to keep pace with production for the second consecutive year. If 2013 was marred by credit tightening scuttling steel demand from key sectors 2014 has been more damning with production surging ahead despite surplus inventory and environmental concerns. Demand has remained common sore point all through.

Ironically steel industry has never let go an opportunity at setting new heights in steel production. Reflecting fragmented nature of industry where little control can be exercised has proved to be undoing of the domestic price levels.

Demand from construction sector which accounts for nearly 60% of steel consumption has been sagging with transactions slowing down on tight credit by the banks. Prices of new homes in China dropped in July from June, the third straight monthly decline, and the softness spread to more cities, despite efforts by many local governments to shore up the sector.

China's once-hot housing market has slowed this year as both sales and prices turned south in the biggest pull-back in two years, driven in part by the cooling economy and by a national government campaign to keep price rises in check.

Weak sentiments in steel market had a back breaking impact on the iron ore price levels plummeting to near second lowest in the past 2 years and making a token gain to mid 90’s (USD 95 per tonne). Surprisingly despite low price levels iron ore imports has not abated owing to cost effective imports and closure of unviable domestic mines.

Iron ore futures in China also pulled back. Iron ore for January delivery on the Dalian Commodity Exchange slipped 0.3 percent to CNY 657 per tonne.

However even after sustained drop in iron ore stocks at port it remained at gigantic 112 million tonnes.

An obvious fall out of surplus volumes at home has been flooding of the international market with Chinese material at very competitive levels keeping any revival tendency at bay. Export volumes from China have picked up substantially this year with nearly 8 million tonnes being exported in July about 43% jump y-o-y.

Future looks unpromising with half measures at stimulating economy and demand have not yielded substantial results for behemoth churning out steel with impunity. In August daily steel production has shown growth of 3.6% at 1.8 million tonnes per day in the first 10 days. As long as major credit boost eludes the housing sector the chances of an early turnaround is far-fetched.

Source – Strategic Research Institute

voda 19 augustus 2014 16:47

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Rio Tinto and BHP tighten grip on world iron ore

SMH reported that Mexican drug cartels have been diversifying into the iron ore business, smuggling ore worth about USD 1 billion a year into China. But it’s the emergence of a more legitimate cartel one run largely by Australians that should worry China more.

Rio’s latest result shows how powerful the big three global producers have become. The company’s results for the six months to June 30, with underlying earnings rising 21% to USD 5.1 billion are remarkable given that iron ore prices actually fell 20% over the period.

After slashing costs, capital expenditure and debt, management hinted at higher dividends and more buybacks. If the mining boom is supposed to be over, no one told Rio Tinto.

The really interesting element to the result concerned production increases. Although lower iron ore and coal prices stripped USD 1.4 billion from underlying earnings, volume increases, particularly in iron ore, offset that fall by more than USD 900 million. All up, iron ore contributed more than 90% of total profit.

With China slowing and the country’s government frantically shifting spending away from capital expenditure towards consumption, which dampens demand for ore, Rio Tinto and BHP are expanding output.

It sounds counter-intuitive but the move contains a deadly logic. Rio, BHP and Brazilian owned Vale enjoy major cost advantages over almost every other producer. The greater their output, the more pain they inflict on the competition. If the big three can push the price of ore low enough, they can induce a global shakeout in the industry by forcing higher cost producers into bankruptcy.

After that, the Chinese become price takers a prospect that must terrify them and the big three will recover all the money and more they’re prepared to lose to control global output and prices.

Source – SMH

voda 19 augustus 2014 16:48

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WA Treasurer flags revenue fears after iron ore price plummets

ABC reported that Mr Mike Nahan West Australian Treasurer has refused to rule out tougher budget measures as the Government deals with a period of low iron ore prices.

Australia's most lucrative export commodity hit just over USD 93 per tonne last week, about USD 30 less than what the WA Treasury used to calculate expected revenue for this financial year.

Dr Nahan said that In June, the price of iron ore dropped to USD 89 per tonne and despite a slight recovery. The period of low prices was posing a threat to state revenue. The Government may have to make some tough decisions to combat any revenue loss.

He said that "Our mid erm review, will, if the price hasn't improved write down a substantial decline in our iron ore forecast, and iron ore represents 20% of our income. I guarantee I look at the price every day, and it's something we're going to have to address."

He added that the Government was looking at ways to tackle the problem, but refused to speculate on areas of Government spending where the axe could fall if prices did not pick up. Those are issues we're going have to deal with. The commitment the Premier made at the Liberal Party state conference was that we will achieve a surplus.

Source - ABC

voda 19 augustus 2014 16:49

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China futures iron ore pulled back on DCE

Reuters reported that iron ore futures in China also pulled back. Iron ore for January delivery on the Dalian Commodity Exchange slipped 0.3% to CNY 657 per tonne.

A sustained drop in China's iron ore port stocks helped cap the losses in Dalian futures.

According to data tracked by industry consultancy SteelHome, stockpiles of imported iron ore at China's ports fell for the fourth straight week to 109.4 million tonnes as of August 15th 2014.

Iron ore for immediate delivery to China .IO62-CNI=SI gained 0.2% to USD 93.40 per tonne on Friday, but ended the week down by 2.6%, its biggest loss since mid June.

Diversified miner BHP Billiton, which is relying on iron ore for the lion's share of fiscal 2014 earnings, has declared its preference for a demerger of its aluminium, manganese and nickel assets, setting the stage for the formation of a separate business that could be worth at least USD 12 billion.

Source – Reuters

voda 19 augustus 2014 16:50

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China's crude steel output rises in early August

According to data released by the China Iron & Steel Association, the daily crude steel production of the 156 major steelmakers averaged at 1.82 million tonnes in early August, rising by 3.6% from the previous 11 days.

As of August 10th, the inventory of finished steel at the 156 major mills totaled 14.57 million tons, rising by 3.4% from July 31st.

Source - www.yieh.com

voda 19 augustus 2014 16:52

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Ukraine's crude steel output may drop in September

According to data released by the Ukrainian association of metal producers Metallurgprom, Ukraine’s crude steel output is expected to drop by 3.8% to reach 2.5 million tons in September.

In September, the country’s output of pig iron is expected at 2.4 million tonnes down by 5.9% compared to the previous month. Besides, the demand for scarp will be around 350,000 tonnes.

Source - www.yieh.com

mvliex 1 20 augustus 2014 12:46

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Mondiale staalproductie neemt toe

Gepubliceerd op 20 aug 2014 om 12:27
BRUSSEL (AFN) - De wereldwijde productie van staal is in juli op jaarbasis met 1,7 procent gestegen tot 137 miljoen ton. Dat maakte de World Steel Association, die over productiecijfers uit 65 landen beschikt, woensdag bekend.

China was met 68,3 miljoen ton (plus 1,5 procent) goed voor de helft van de mondiale productie. Japanse staalfabrieken produceerden 9,3 miljoen ton, evenveel als een jaar eerder. In Zuid-Korea nam de productie met 6,2 procent toe tot 5,9 miljoen ton.

In de Europese Unie nam de productie in diverse landen af. In het Verenigd Koninkrijk viel de productie met 4,4 procent terug tot 1 miljoen ton en in Oostenrijk met 5,2 procent tot 0,6 miljoen ton. De Nederlands staalsector produceerde eveneens 0,6 miljoen ton, dat was 0,5 procent minder dan een jaar eerder. De Duitse productie steeg met 1,5 procent tot 3,4 miljoen ton.

Oekraïne
Rusland en Oekraïne sprongen in het oog met respectievelijk een stijging van 8,1 procent tot 6,2 miljoen ton en een daling van 11,7 procent tot 2,5 miljoen ton.

In de VS werd vorige maand 7,6 miljoen ton staal gemaakt, een stijging van 2,3 procent en in Brazilië was de productie van 2,9 miljoen ton 0,5 procent hoger dan een jaar eerder.

De World Steel Association maakte ook bekend dat de capaciteitsbenutting met 1,2 procentpunt verslechterde tot 75,4 procent.

voda 20 augustus 2014 16:20

1

Winststijging en aandeleninkoop bij Glencore

WOENSDAG 20 AUGUSTUS 2014, 13:10 uur | 184 keer gelezen

BAAR (AFN/BLOOMBERG) - Glencore heeft zijn winst in de eerste helft van dit jaar zien stijgen dankzij een hogere productie van diverse grondstoffen. De op twee na grootste mijnbouwer ter wereld maakte woensdag bekend voor 1 miljard dollar eigen aandelen te gaan opkopen, een kers op de taart voor de aandeelhouders die ook al meer dividend uitgekeerd krijgen.
Aandeelhouders van mijnbouwers wereldwijd eisen al langer een hoger rendement na een periode waarin veel overnames mislukten en waarin de markt overspoeld raakte door investeringen in nieuwe mijnen. Veel mijnbouwers zijn bezig met kostenbesparingsprogramma's en het (deels) terugdraaien van fusies. BHP Billiton maakte dinsdag nog bekend delen af te splitsen.

Glencore haalde in de eerste 6 maanden van dit jaar een aangepaste nettowinst van ruim 2 miljard dollar, tegen 1,9 miljard dollar een jaar eerder. Het concern, dat mijnbouwer Xstrata vorig jaar overnam voor 29 miljard dollar, verwacht verdere groei in de komende jaren. De zogeheten supercyclus, waarin er onder aanvoering van China een enorme vraag was naar tal van grondstoffen, is volgens bestuursvoorzitter Ivan Glasenberg nog niet voorbij. “De vraag is niet afgezwakt maar juist verder toegenomen tot ongekende hoogten.”

voda 20 augustus 2014 19:39

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Moody's Investor Service bullish on steel growth in India

PTI reported that Moody's Investor Service said that steel consumption in India is set to pick up once the new government's infrastructure spending policies are put in place

It said “The new Indian government's inaugural Budget announced on 10 July included a number of proposals that we consider credit positive for Indian steel makers. In particular, we expect steel consumption in India to pick up once the government's infrastructure spending policies are put in place.”

Indian steel consumption grew by just 0.6 per cent in financial year 2013-14, its lowest in four years, to 73.93 million tonnes, mainly impacted by a slower expansion of the domestic economy and lower imports.

Source - PTI

voda 20 augustus 2014 19:42

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Steel rebar futures at SHFE hit record low of CNY 3006 amid property downturn

Reuters reported that Shanghai rebar steel futures fell to their lowest level on record as prolonged weakness in China's property sector darkened the outlook for demand.

The most traded rebar for delivery in January on the hanghai Futures Exchange dropped to CNY 3,006 per tonne, the lowest for the benchmark contract since the bourse launched rebar futures in March 2009.

A trader in Shanghai said that "Demand for construction steel products hasn't really picked up despite efforts by local governments to ease restrictions on property purchases. We can see less new projects, which will be negative for steel demand."

Prices of new homes in China dropped in July from June, the third straight monthly decline, and the softness spread to more cities, despite efforts by many local governments to shore up the sector. China's once hot housing market has slowed this year as both sales and prices turned south in the biggest pull back in two years, driven in part by the cooling economy and by a national government campaign to keep price rises in check.

Source – Reuters

voda 20 augustus 2014 19:46

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Artillery shelling shuts down four Metinvest Group plants in Ukraine

Damage from heavy artillery cut the electricity transmission lines to the cities of Yenakiieve and Khartsyzsk. This led to the full shutdown of production at Yenakiieve Steel, Enakievskiy Koksohimprom and Khartsyzsk Pipe. Avdiivka Coke is still cut off from electricity.

Due to ongoing military activity in the area near the cities Yenakiieve, Avdiivka and Khartsyzsk, it is impossible to carry out work to restore the electricity transmission lines. Representatives of Metinvest Group do everything possible to create a green corridor for repair teams.

Yenakiieve Steel is one of the world’s leading producers of square billet, Khartsyzsk Pipe is Ukraine’s leading and one of Europe’s leading pipe producers and Avdiivka Coke is one of Europe’s largest high tech coking enterprises.

The shutdown of these large metallurgical enterprises and the major employers in these cities affects the entire Ukrainian economy and 15,000 employees and their families. In addition to the social and economic consequences, the residents of Southeastern Ukraine are now at risk of manmade disasters.

Avdiivka Coke was fully cut off from electricity supply at the end of last week and production at Yenakiieve Steel was suspended one day before that. On August 16, armed representatives of the Donetsk People’s Republic hijacked the newest shunting diesel locomotive from the territory of Yenakiieve Steel.

Source – Strategic Research Institute

voda 20 augustus 2014 19:47

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No production cut by large steelmakers in China - CISA

According to data from the China Iron and Steel Association, daily crude steel output from China's large steel mills rebounded 3.6% in the first 10 days of August to 1.812 million tonnes adding to concerns about oversupply.

Production by CISA's 88 steel mill members had dipped 2.8 percent over the July 21-31 period compared with the previous 10 days, raising hopes that big producers were taking heed of market signals by slashing output.

Total steel output in early August was estimated at 2.325 million tonnes, up 2.5% indicating that much of the rebound appears to have been driven by planned production increases by the bigger mills.

The CISA affiliated Custeel consultancy estimated that non CISA steel mills produced an average of 505,000 tonnes a day over the first 10 days of August, down from 512,000 tonnes over July 21st to 31st 2014.

Custeel estimated that the minnows accounted for 21.7% of total production down from 22.6% over the previous 11 day period. As a result of weak demand, traders have been reluctant to buy and some smaller mills have reduced output in order to control their inventories.

The consultancy said that the Shagang Group, China's largest privately owned mill, raised production by an average of 11,400 tonnes a day in early August, while the Baotou Steel Group raised production by a similar amount.

However, the Baoshan Iron and Steel Group cut output by 10,400 tonnes a day over the period. Product stocks at major steel mills rose 3.4% compared to the last 11 days of July to reach 14.57 million tonnes by August 10.

Source – Reuters

voda 20 augustus 2014 19:48

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Australia's Arrium sees strong iron ore demand

Australian steel maker and iron ore miner Arrium Limited posted an 83% jump in annual underlying profit as its iron ore output rose by more than half, and said it expected demand for seaborne iron ore to remain strong.

Its shares jumped 9% to a two week high after it reported the results, which were ahead of market forecasts as iron ore production costs fell and it cut debt.

The mining and materials group said that it expects iron ore prices, which have fallen 31% this year, to improve as stocks of lower quality ore that have come on to the market following expansions by Fortescue Metals Group and Atlas Iron are absorbed.

The demand for seaborne iron ore is expected to remain strong due to continued growth in crude steel production in China and declining production of higher cost Chinese ores.

Arrium's underlying net profit for the year ended June 30 of AUD 296 million compared with AUD 162 million a year ago. That was slightly ahead of the AUD 289.6 million average forecast of analysts surveyed by Thomson Reuters I/B/E/S. Its full year dividend of 9 cents a share was also slightly higher than forecasts at 8.6 cents.

Arrium last month posted record full year shipments of iron ore with the completion of an AUD 86 million magnetite project. It expects to hit a production rate of about 13 million tonnes a year in the current quarter.

The company has been focusing on iron ore growth as its steel business remains under pressure from foreign competition, due to the strong Australian dollar and high domestic costs against a backdrop of weak construction demand.

Source – Reuters

voda 20 augustus 2014 19:48

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Updates on weekly raw steel production in USA

In the week ending August 16th 2014, domestic raw steel production was 1,919,000 net tonnes while the capability utilization rate was 79.8%. Production was 1,858,000 net tonnes in the week ending August 16th 2013, while the capability utilization then was 77.6%.

The current week production represents a 3.3% increase from the same period in the previous year. Production for the week ending August 16th 2014 is up 1.2% from the previous week ending August 9th 2014 when production was 1,896,000 net tonnes and the rate of capability utilization was 78.8%.

Adjusted year to date production through August 16th 2014 was 60,263 net tonnes, at a capability utilization rate of 77.0%. That is up 0.5% from the 59,959 net tonnes during the same period last year, when the capability utilization rate was 76.9%.

Broken down by districts, here's production for the week ending August 16th 2014 in thousands of net tonnes: North East: 233; Great Lakes: 679; Midwest: 240; Southern: 675 and Western: 92 for a total of 1,919.

The Raw Steel production tonnage provided in this report is estimated. The figures are compiled from weekly production tonnage provided from 50% of the domestic producers combined with monthly production data for the remainder. Therefore, this report should be used primarily to assess production trends.

The AISI production report AIS 7 published monthly and available by subscription, provides a more detailed summary of steel production based on data supplied by companies representing over three quarters of US production capacity.

Source – Startegic Research Institute

voda 20 augustus 2014 19:49

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US and India separately appeal WTO ruling on steel duties

The US and India have each appealed a mixed decision from a World Trade Organization dispute settlement panel that faulted certain aspects of US countervailing duties on Indian hot-rolled carbon steel products.

A notice of appeal from the US side was circulated to WTO members, following the notification of India's appeal, which was circulated last week. Among the issues the US appeal seeks to address is the portion of the panel report that faulted the US measure allowing for cross cumulation.

Source – Law360

voda 20 augustus 2014 19:55

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The European outlook for the offshore pipeline industry in 2014 is positive

According to a recent report conducted by TATA Steel, the European outlook for the offshore pipeline industry in 2014 is positive.

Operators and developers are studying, planning and building just over 7,050 mi (11,346 km) of oil and gas pipelines to bring these supplies from offshore fields to onshore markets. The total reflects a significant increase from last year's survey, which showed a total of almost 5,600 mi (9,012 km). This year's total represents a 26% increase over last year.

The increase is driven in very large part by the development of the South Stream pipeline project, and the decision by the developers to build four 578-mi (930-km) pipelines to move natural gas from Russia to Bulgaria (and then to European markets) via the Black Sea. If all four lines are built according to plan, South Stream will include more than 2,300 mi (3,701 km) of pipe.

Installation of the first South Stream pipeline is expected to begin this fall, and will be undertaken by Saipem, who will use its Castoro Sei vessel to work toward a 2015 completion date. Construction on the second line will be undertaken by Allseas, using its new Pieter Schelte vessel. Work on this second line is scheduled for a late 2016 completion timeframe.

Due to the increase in South Stream's project scope, Europe is the clear leader in the survey for the third year in a row, with 4,178 mi (6,724 km) of pipeline systems being built and planned.

It should be noted that the long-planned GALSI pipeline project, which called for a 937-mi (1,508-km), 22- to 48 in. pipeline to move natural gas from Algeria to Sardinia and then to Italy, has been removed from the survey. Some 347 mi (558 km) of that would have been offshore, in the Mediterranean Sea. The project, announced in 2005, has suffered a number of delays and setbacks that have undermined its viability. Recent reports have indicated that this project will not proceed.

At the same time, the White Stream natural gas pipeline project remains in the survey. First announced in 2005, it calls for a 635-mi (1,022-km), 20-, 24-, and 42-in. pipeline to move natural gas from the Caspian region to Romania, Ukraine, and other European markets. White Stream may ultimately be another project that falls by the wayside, but there is some evidence that developers continue to support the project; and so it remains in the survey for this year.

The Middle East once again comes in second (as it did last year), with 1,103 mi (1,775 km) of pipelines being built or planned. Most notable here is the proposed South Asia Gas Enterprise Pvt. Ltd. (SAGE) project, also known as the Middle East to India Deepwater Pipeline (MEIDP). It calls for the construction of an 807 mi (1,300-km), 24- to 27-in., pipeline to move natural gas from the Persian Gulf and Middle East regions to India. This project it still under study, with a projected 2017 completion date.

Also in the region, Delek Group's gas partnerships have applied to export natural gas to Cyprus through a pipeline from Israel's deepwater Leviathan field. The aim is to start gas deliveries in early 2016, but the project requires agreement between the bidders and the Cypriot government no later than Aug. 21, 2014. There is also a proposal to build a pipeline from the Leviathan to Egypt. But no details have been announced for either, so they are not included in the survey.

Similarly, there have been reports of a possible long-distance subsea pipeline to move Iranian natural gas to markets in Oman. Iranian Petroleum Minister Bijan Namdar Zanganeh has said that the two countries have discussed five options for gas transmission, and that they hoped to finalize a deal this year. Again, with no details on route, length and diameter announced, this project has not been included in the survey.

Continuing the trends from last year, the South Pacific region once again comes in third, with 813 mi (1,308 km) of systems being planned and built. Most notable here are the Wheatstone and Ichthys pipelay projects, which have both begun construction. Allseas is building the 140-mi (225-km), 44-in. natural gas trunkline from the Wheatstone processing platform to an LNG plant in Western Australia. Saipem is building the 552-mi (888-km), 42-in. Ichthys natural gas pipeline, which will run from an offshore processing facility to Darwin, Australia. Saipem is using its semisubmersible laybarge SEMAC-1 for the shallow-water portion and the laybarge Castorone for the larger deepwater portion.

Offshore South America, Petrobras is moving forward with plans to move gas from the Guara and Lula Northeast FPSOs in its Lula field to other systems that will take the gas to onshore markets. Petrobras has contracted Saipem for construction of subsea facilities for the Lula Norte, Lula Sul, and Lula Extremo Sul projects offshore Brazil. The location is in the Santon basin presalt region, around 300 km (186 mi) from the coasts of Rio de Janeiro and São Paulo states.

Source – Offshore Mag

voda 20 augustus 2014 19:55

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Mega steel plant launched in Dar es Salaam

Daily News reported that Mr Mizengo Pinda PM of Tanzania has launched a 320 billion steel plant in Dar es Salaam, which is expected to produce 80,000 M tonnes of steel per year.

The Kamal Steel Limited plant, to produce reinforced bars, flat bars, angle bars, under the continuous casting machine technology, would be the biggest in terms of capacity in East Africa.

Mr Pinda said that in order to reach the targets of Vision 2025, it was important that industries were developed since one of the important sectors of the economy was construction where steel is a very important material.

In recent years, contribution of the construction sector to the economy had grown from 7.8% in 2005 to 8.3% in 2012, reaching 8.6% in 2013. Such growth was facilitated by an increase in the demand for steel, iron sheets and construction cement, adding that such demand influenced the increase of production of such material in industries.

He said production of steel increased by 3.5% from 46,690 tonnes in 2012 to 48,312 tonnes last year. Production of iron sheets increased by 4.8% from 81,427 tonnes in 2012 to 85,313 tonnes in 2013.

Mr Pinda said that production of cement increased by 18.9% from 2.58 million tonnes in 2012 to 3.06 million tonnes last year. The demand for steel showed that there was an opportunity for the subsectors of the same to grow significantly. After the expansion, the industry would be the biggest of such kind in East Africa and be able to produce 80,000 tonnes of steel metal per year.

He pointed out that Tanzania is part of the Multilateral Intestment Guarantee Agency and International Centre for Settlement of Disputes and one of the pioneers of World Bank Foreign Investment Insurance Wing and thus making global investments safer locally.

He further added that the government would continue strengthening the investments climate, particularly through projects such as Big Results Now in the six priority areas of transport, access to finance, agriculture, infrastructure, water and education.

Source – Daily News

marcobol 20 augustus 2014 22:16

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