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Arcelor News

01 Mar 2024

New US Sanctions More Likely to Curb Indian Imports of Russian Coal

© Letopisec / Adobe Stock

New U.S. sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they specifically cite top exporters SUEK and Mechel, three major traders of Russian coal said.Russia, historically a minor exporter of the fuel to India, began boosting shipments to the south Asian country after Western sanctions against Moscow over its invasion of Ukraine.The latest U.S. sanctions also include Russia's payment system, financial institutions and energy production."With the new sanctions…

14 Mar 2018

Torvald Klaveness Extends Shipping Deal with Arcelor Mittal

Norwegian shipping company Torvald Klaveness has extended its shipping agreement with Luxembourg-based steel and mining firm Arcelor Mittal. "We are pleased that Arcelor Mittal, one of the leading steel and mining companies have chosen to continue their long-lasting relationships with Klaveness," said a press statement from the company. This entails 10 cargoes on Panamax from south America to continent, and 10 cargoes on supramax from the West Africa-continent. A total volume of 1.4 mill tonnes of iron ore in 2018. Arcelor Mittal has an industrial presence in 18 countries and strongly believe in producing safe, sustainable steel. A company…

14 Oct 2015

Burdeau Appointed COO of GTT

GTT, a designer of membrane containment systems for the maritime transportation and storage of LNG liquefied natural gas (LNG), announced that its board of directors met on October 14 and appointed Julien Burdeau as chief operating officer of the company, following the proposal of Philippe Berterottière, chairman of the board and CEO. Burdeau joined GTT in 2013 as vice president, in charge of innovation, a position he will retain. He began his career with the French ministry for industry before he moved into the steelmaking sector in 2002. He gained 11 years of industry experience and held various operational responsibilities at Arcelor then ArcelorMittal and Aperam. From 2009 to 2013, he managed the Aperam group's alloys and specialties division.

19 Dec 2007

Marseilles Predicts Bulks Recovery

Cargo throughput at the Port of Marseilles-Fos to the end of November was marked by sustained growth in container and liquid bulks traffic, while passenger numbers continued to be boosted by the cruise sector. In contrast, oil and dry bulk volumes fell by a combined five million tonnes compared with the first 11 months last year to leave the cargo total down 4.3% for the period on 87.9MT. The port authority says that 2008 throughput should recover to the 2006 level of more than 100MT as the Fos Cavaou methane terminal, a second Arcelor-Mittal steel foundry and the Cap Vracs clinker and cement works come on stream. Among the 2007 high spots, January-November container traffic rose 4.5% to almost 908,000 teu, with east-west trades via Fos up 8.1% on 647,000 teu.

03 Jan 2005

Steel Prices Stay Firm

With global steel demand running at an unprecedented level, rapidly rising prices have been a constant headache for ship repairers, as well as ship builders, in recent months. And despite sharply higher steel output, there is little sign of any softening as the New Year dawns. According to the International Iron and Steel Institute (IISI), crude steel production for the 62 countries reporting their figures was 945m tonnes by the end of November, up 9% on the corresponding period one year earlier. Analysts were expecting total production to break through the billion tonne mark easily by the end of the year for the first time ever. IISI figures show that China accounted for the largest increase in output.

04 Aug 2006

Daewoo Shipbuilding Shares Surge on M&A Talk

South Korea's Daewoo Shipbuilding and Marine Engineering Co. shares rose as much as 6.7 percent on August 3 after a local newspaper said steel maker POSCO Co. Ltd. was interested in buying the shipbuilder. South Korea aims to sell a controlling stake in Daewoo, the world's second-biggest shipbuilder, in the second half of 2006. State-run Korea Development Bank and government restructuring agency KAMCO own a combined 50.6 percent stake, valued at more than $3b according to current market prices. POSCO, which is slated to become the world's number four steel maker once Mittal Steel's takeover of Arcelor is completed, has been facing falling margins due to weak steel prices in a market awash with Chinese supplies, Reuters reported. Daewoo had a $7.93m net profit on sales of $4.8b in 2005.