Features Cement FOB prices in the Persian Gulf drop in June on the back of lower Saudi exports 14 December, 2020 SHARE THIS ARTICLE Share Tweet Post Email LATEST Environment Prometheus Materials produces cement with algae Startup innovates zero-carbon May 06, 2024 Markets & Competition FSA reconstitutes Raysut Cement Company’s Board of Financial regulator acts for company May 06, 2024 MOST READ Markets & Competition US cement market insights unveiled Explore the latest trends and figures in the US cement April 29, 2024 Equipment Continental Cement unveiled new DomeSilo at Davenport Enhancing cement storage with Dome April 30, 2024 Cement FOB prices in the Persian Gulf drop in June on the back of lower Saudi exports FOB prices in the Persian Gulf-Arabian Sea for gray cement continued to decrease in June, down by more than 1 percent month-on-month, while clinker export prices declined almost 2 percent, as Saudi exports weaken, according to CW Research's Cement and Clinker Price Assessment for Med Basin and Persian Gulf-Arabian Sea & East Africa. Meanwhile, FOB prices for gray cement in the Mediterranean Basin continued to increase, up by over 1 percent month-on-month, as well as clinker export prices, with Spanish, Algerian and Egyptian cement exports reporting a bullish trend. While in East Africa, gray cement CFR prices also declined by almost 0.5 percent on a monthly basis. ÔÇ£In Saudi Arabia, one of the largest exporters in the region, cement exports registered weaker year-on-year figures in the first five months of 2021, while domestic demand surged during the period. Export prices in the Persian Gulf decreased by more than USD 1 from March to May,ÔÇØ assessed Wanderson Teixeira, Junior Business Analyst at CW Group. Saudi Arabia's cement exports remain on a downward trajectory Saudi Arabia's total cement sales increased almost 65 percent year-on-year in May, boosted by domestic demand, while exports continued to decline, down by about 10 percent compared to May 2020. Zambia's Zambezi Portland Cement increased its production capacity to around 2 million tons per year, after its plant expansion with an investment of USD 24 million. The cement plant, now operating at full capacity, produces 3,500 tons of cement per day. Cement exports from Egypt increase in the first four months of 2021 Cement exports from Egypt increased between January and April to reach USD 98 million, compared to USD 42 million, during the same period last year, according to the Export Council for Building Materials, Refractories and Metal Industries. The largest shipments were delivered to Libya, Kenya and Sudan. Meanwhile, in Spain, cement exports continued on an upward trend in April on a yearly basis with an increase of 25 percent compared to the same period last year. Shipping market outlook In terms of shipping at a global level, the Baltic Dry Index reached 2,944 points on June 14, down by 310 points compared to May 11, due to excess tonnage and slow demand in the beginning of the month. This scenario changed in the second week, helped by higher Capesize rates. In the beginning of June, the Greek dry bulk owner Diana Shipping announced it finalized two new vessel charters, both at higher rates than their previous charters. Olam International has taken the 2013-built Capesize P.S. Palios on time charter from June 6, for USD 26,500 per day, from the previous charter rate at USD 12,050 per day. Viterra Chartering has taken 2009-built Kamsarmax Maia on charter from June 10, at a rate of USD 25,000 per day, from a previous charter rate at USD 11,200 per day. In the same month, in Germany, Nova Marine Carriers and Aug. Bolten partnered to launch a new bulker company which will focus on joined asset management, commercial and pool operations and ship management. The Cement and Clinker Price Assessments for Med Basin and Persian Gulf are part of CW Research's price assessment series for tradable commodities. The report offers prompt cargo (next 30-60 days deliveries) pricing insights, regular monitoring of the market and an overview of key developments that are crucial for those involved in the cement, clinker and petcoke trade to understand. The monthly price assessments synthesize key market information based on CW Research analysts' ongoing interactions with market participants, including traders, exporters, buyers and other stakeholders involved in the cement, clinker and petcoke trade. Find out more about the report here. Sign in Don't have any account? Create one SHOW Forgot your username/ password? 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