Displaying items by tag: petcoke

India: The India Cements’ revenue fell by 24% year-on-year to US$244m in the six months to 30 September 2024 from US$320m in the same period in 2023. Its reported loss grew to US$33.3m from US$19.8m. Sales volumes declined by 15% to 4.26Mt from 5.04Mt. The company’s performance was negatively affected by weak cement demand and a significant decline in prices, according to the Hindu newspaper. It also said that is was unable to benefit from lower fuel costs, particularly petcoke, as lower sales volumes reduced its margins. The cement producer was purchased by UltraTech Cement in July 2024.

India: Orissa Bengal Carrier has entered into a three-month contract to transport coal and petcoke for Shiva Cement, a subsidiary of JSW Cement, effective until 31 December 2024. The company has not disclosed the value of the contract.

Tunisia: Les Ciments de Bizerte continues to face disruptions due to a financial crisis, limiting its operations to grinding imported clinker and managing petcoke shipments for third parties, African Manager News reports. Clinker production has been suspended throughout the second quarter of 2024, due to a lack of petcoke.

Cement production plummeted by 70% to 33,282t in the second quarter of 2024 from 109,855t during the same period in 2023. Lime production also declined by 37% due to reduced national demand. Local sales in the first half of 2024 decreased by 60% from US$16.3m in 2023 to US$6.6m in 2024, with exports completely halted during the first half of 2024. The company is in the process of paying off its debts.

Tunisia: Les Ciments de Bizerte has announced that it experienced financial difficulties during the first quarter of 2024. The company was unable to import petcoke due to a lack of cash and looming loan repayments, leading to the total suspension of clinker production. This left the company only able to grind existing clinker and operate its quay. As a result, the company’s total sales in the first quarter of 2024 fell by 53% year-on-year compared to the same period in 2023, falling from US$8.3m to US$3.9m.

Brazil: Secil subsidiary Supremo Secil Cimentos will invest US$20.3m in an upcoming expansion of its Adrianópolis cement plant. Commencing in July 2024, the expansion will raise the plant’s clinker capacity by 10% and enable it to increase its alternative fuel (AF) substitution rate from 25 – 30% to 40%, and eventually to 50% by 2030. To date, AF use at the plant has reduced its cumulative consumption of petcoke by 100,000t.

CEO Paulo Nascentes highlighted the transformative impact of the Adrianópolis plant on its host community, with its initial investment of US$176m and a subsequent US$41.7m in previous upgrades to date. "One of the reasons why the Paraná government allowed the plant was because Adrianópolis was very neglected. The arrival of Supremo transformed the city," he said.

India: ACC grew its sales to US$1.75bn in the first nine months of the 2024 financial year, up by 12% year-on-year. Its net income multiplied by a factor of five, to US$167m.

Mint News has reported that whole time director and CEO Ajay Kapur said "ACC’s financial performance has seen a complete turnaround in the last 12 months. Recent capacity additions have taken the Adani Group’s cement capacity to 77.4Mt/yr. This will enable volumes and revenues growth on a sustainable basis." Looking to the full 2024 financial year and beyond, Kapur added “Purchases of low-cost petcoke will help to further optimise fuel costs in the coming quarters."

India: Dalmia Bharat sold 7Mt of cement during the first quarter of the 2024 financial year, up by 12% year-on-year from 6.2Mt in the first quarter of the 2023 financial year. The company's income also rose, by 10% to US$442m, while its net profit dropped by 30% to US$17.6m. Hindu BusinessLine News has reported that the producer noted a continued downward trajectory to its fuel costs. During the quarter, Dalmia Bharat commissioned its new 2.5Mt/yr Bokaro cement plant in Jharkhand, and completed de-bottlenecking work at its 0.6Mt/yr Midnapore plant in West Bengal.

Managing Director and CEO Puneet Dalmia said "This quarter has been a disappointment as against our expectations. Having said so, we remain focused on seizing the emerging demand opportunities.”

Cement Managing Director and CEO Mahendra Singhi added “Given the promising outlook for cement demand, the expectation of stable cement prices during the rest of the year, and the softening in commodity costs, we anticipate a gradual improvement in profitability."

India: Aditya Birla subsidiary UltraTech Cement recorded cement sales volumes of 30Mt during the first quarter of the 2024 financial year, which began on 1 April 2023. This corresponds to growth of 20% year-on-year from first-quarter levels in the previous financial year. The Economic Times newspaper has reported that ICICI Securities expects UltraTech Cement's earnings before interest, taxation, depreciation and amortisation (EBITDA) to fall by 3% year-on-year. Declining fuel prices are expected to have contributed to a drop in the producer's costs. Throughout the quarter, its capacity utilisation rate was 90%.

India: The cement industry imported 3.21Mt of petcoke during the first quarter of 2023, up by 72% year-on-year. This was due to a shortage and rising costs of domestically produced petcoke.

Oman is a major trade partner for petcoke for the Indian cement industry. The Oman Daily Observer newspaper has reported that a new oil refinery is scheduled for commissioning in Duqm before the end of 2023. ‘Several’ Indian cement companies are reportedly seeking to secure new petcoke supply deals in Oman.

India: The price of imported coal ended December 2022 at US$145/t. The figure represented a 15% month-on-month drop from November 2022 levels. HT Media News has reported that the price is the lowest since the Russian invasion of Ukraine in February 2022.

Finance company IDBI Capital has forecast that earnings before interest, taxation and amortisation (EBITA) per tonne of cement by local cement producers will rise by US$2.66/t quarter on quarter during the fourth quarter of the 2023 financial year, which will end on 31 March 2023. This is partly due to an anticipated 10% year-on-year decline in coal and petcoke costs during the period, alongside a 10% rise in cement volumes projected over the same period.