Displaying items by tag: Saudi Arabia
Saudi Arabia: Yamama Cement’s net profit fell by 66% year-on-year to US$13.5m in the first quarter of 2017. Its revenue fell by 41% to US$59m. according to Trade Arabia. The cement producer’s cement sales fell by 25% to 1.24Mt. The result has been blamed on low cement sales and prices.
Bahrain: Cement companies in Bahrain have stopped importing cement from Saudi Arabia following a change in export laws that has increased the price. United Cement Company chief executive Faisal Shehab said that the four cement companies in Bahrain used to import a total of 25,000t/week, according to the Gulf Daily News. In March 2017 the law changed in Saudi Arabia allowing producers to export cement. However, the law has specified that companies should repay government subsidies and this has increased the price of exports to Bahrain by nearly 50%. The imported cement represents about half of Bahrain requirements. Previously, Bahrain imported cement from Saudi Arabia under a special arrangement set up in 2009. Bahrain producers are now seeking alternative imports from the UAE.
Saudi Arabia: Tabuk Cement says it has obtained an export license from the Ministry of Commerce and Investment. The licence will be valid for one year, according to Mubasher. Sales volumes of cement fell by 25% year-on-year to 4Mt in February 2017.
Saudi Arabia: Mubasher has reported that cement-making companies in Saudi Arabia witnessed a near 35% decrease in sales in February 2017. The cement companies sold 4.1Mt of cement in February 2017, down from 5.4Mt for the year-ago period. The companies' production also decreased by 26% in February 2017 to 4.0Mt, compared to 5.5Mt in the same month of 2016.
The country's cement inventory increased to 1.07Mt in February 2017, up by 18.2% year-on-year from 906,000t. Yanbu Cement topped cement sales in February 2017, as it registered sales of 474,000t, with a drop of 21.26% year-on-year from 602,000t.
Saudi Arabia: Najran Cement has temporarily shut down its second production line due to poor market conditions and high inventory. The line has a clinker production capacity of 3000t/day. The cement producer intends to announce any financial impact arising from the shutdown in its financial report for the first quarter of 2017.
Saudi Arabia: Tabuk Cement has appointed Saeed Bin Saeed Obaid as its new chairman. He succeeds Khalid Bin Saleh Al-Shathry.
Saudi Arabia: Yamama Cement has temporarily shut down five of its production lines. The lines have a joint clinker production capacity of 5600t/day. The decision was made due to poor market conditions, low demand for cement and high inventory.
Saudi Arabia: Najran Cement’s net profit has fallen by 51.2% year-on-year to US$33m in 2016 from US$68.1m in 2015. Its revenue fell by 35% to US$1.89bn from US$2.9bn. It blamed the fall in earnings on lower sales volumes due to low cement demand. It said this was caused by a slowdown of construction activities, an increase in energy prices and finance expenses.
Saudi Arabia: Cement producers are planning to cut their production by 5 – 10% in 2017 due to a fall in demand. The decision follows declines in profits of around 17% by local companies in 2016, according to the Al Sharq Al Awsat newspaper. The decrease in demand for cement has been blamed on competition, high production costs and high energy costs. Cement sales in the country started to decline in 2015 following the low international price of oil.
Saudi Arabia: Yamama Saudi Cement has ordered two sets of clinker conveying equipment from Aumund. The Saudi Arabian cement producer plans to start-up two clinker production lines in 2018 at a new site to the southwest of Riyadh. The two lines, with a combined capacity of 20,000t/day, are being built by ThyssenKrupp Industrial Solutions.
The scope of supply includes 29 chain bucket elevators and 18 belt bucket elevators, in heavy-duty and lighter designs, for these two lines. For raw meal, Aumund belt bucket elevators will be used. Filter dust will be conveyed by Aumund chain bucket elevators optimally designed for low capacity. Two Aumund double chain bucket elevators with a capacity of 2300t/hr have been ordered per line as recirculating bucket elevators in the cement mill. The supply package for the two lines also includes six Aumund pan conveyors as well as various flat gates, silo discharge gates, telescopic chutes and cleaning conveyors.