DOCSLIB.ORG

Argus FMB Ammonia Formerly FMB Weekly Ammonia Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Argus FMB Ammonia Formerly FMB Weekly Ammonia Report Argus FMB Ammonia Formerly FMB Weekly Ammonia Report Issue 12-36 | Thursday 6 September 2012 MARKET SUMMARY PRICE GUIDE Another price hike for October Ammonia – fob The market is still firming. In Yuzhny, prices this week have 6-Sep 30-Aug moved up $15/t on last week, with NF Trading selling the lion’s share of its October tonnage to Yara at $645/t fob. Ventspils $/T 638-645 638-645 While in the Middle East, the $705/t fob price achieved by Yuzhny $/T 625-645 625-630 PIC last week was further reinforced with a 23,000t sale from North Africa $/T 635-655 635-645 Sabic to Mitsui at the same price level. Current signals in the Middle East $/T 645-705 625-705 market suggest that no downturn in prices is yet in sight. US Gulf domestic (barge) $/st 670-680* 670-680 In the US, domestic prices are unchanged and movement Caribbean $/T 665 665 of ammonia up the Mississippi river has been slow in the aftermath of Hurricane Isaac and no new barge sales have AMMONIa – cFR been reported this week. 6-Sep 30-Aug In company news in the US, Orascom Construction Industries NW Eur (duty unpaid) $/T 675-725 675-725 (OCI) announced late yesterday that it will build a $1.4bn NW Eur (duty paid/d free) $/T 688-739 688-739 nitrogen fertilizer complex at Wever, Iowa, in the US. The North Africa $/T 665-680 665-675 plant will be built on a greenfield site in southeast Iowa to India $/T 680-690* 680-690 supply customers in the US corn belt. The project is likely to East Asia (excl Taiwan) $/T 725-780 705-780 be the first of a number of new nitrogen facilities expected Taiwan $/T 735-745 715-720 to be built in the US over the coming years, maximizing on Tampa $/T 705 705 the increasing availability of natural gas resources. OCI says US Gulf $/T 710 710 the new plant will be the first world scale natural gas-based *Indicative Price, ** all formula, *** old business, fertilizer plant built in the US in nearly 25 years. na - Not available MARKET OUTLooK: Ammonia prices remain firm, and buyers’ apparent willingness to secure volumes for October suggests that there remains considerable confidence in Highlights this week: the market. It appears that the NF Trading sale to Yara YUZHNY VS MIDDLE EAST FOB PRICE NF Trading sells 75,000t to Yara for October Middle East fob Yuzhny fob ▪ Yuzhny line up expected to reach 300kt this month 700 ▪ Sabic sells spot cargo to Mitsui ▪ OCP plans turnaround 600 ▪ ▪ US market slow after hurricane ▪ OCI announces new nitrogen plant in Iowa 500 400 Argus FMB Ammonia 300 View the methodology used to An Argus Media company assess ammonia prices at 200 www.argusmedia.com/methodology. Your feedback is always welcome at [email protected]. Copyright © 2012 Argus Media Ltd Argus FMB Ammonia Issue 12-36 | Thursday 6 September 2012 for October at $645/t fob will set a new benchmark for east to India. This will be the second vessel out of Yuzhny prices out of Yuzhny in the coming weeks. The wide spread over the last two weeks to voyage east of Suez, reflecting between Yuzhny and Middle East fob prices continues, with tight supply in the east, and the wide spread between the latest Middle East spot price now established at $705/t Middle East and Yuzhny prices. fob. The $60/t price differential between Black Sea and Middle East latest spot prices is likely to result in further The firm line up is currently 205,000t although two other Yuzhny tonnage moving east in September. Nitrochem vessels will also definitely be nominated: EUROPE Provisional Yuzhny line up for September Yuzhny Vessel ’000t Shipper/Destination Sept NF Trading today said it had sold around 75,000t to Yara Havfrost 38.0 Trammo/US 5 for October at $645/t fob Yuzhny. The price is a $15/t hike on last spot sales out of the port, and reflects continued Gas Grouper 23.3 Nitrochem/Morocco loading confidence in the market in the coming weeks. NF Trading Gas Columbia 23.3 Mitsui/India? *8 now expects to have only around 40,000t more available for October. Rossosh is due to shut for a turnaround next Gas Manta 23.3 Nitrochem onroads week for 3-4 weeks, sharply reducing volumes that will be Gas Cobia 23.3 Nitrochem *8-10 pumped down the pipeline to Yuzhny in 2H September. The Sylvie 24.0 Trammo *13-18 line up out of the port for September is currently confirmed at 205,000t but in total 300,000t is expected to load from Gas Providence 24.0 Trammo *16-20 the port this month. Nitrochem is currently accumulating Nordic River 26.0 Yara 2H product to load on the Gas Manta and Gas Cobia next week, and the trader also has some tonnage to return to NF Total 205.2 Trading this month. *estimated arrival Trammo has three vessels, the Havfrost which loaded yesterday, and the Gas Providence and the Sylvie, so far nominated for September, with the possibility of another The Yuzhny line up for August totalled around 333,000t: vessel at the end of September. Yara has nominated the Nordic River for 2H September, and will also load the Marigola from the port later in the month. Last month Yara Final Yuzhny line up for August purchased only 35,000t from NF Trading at around $630/t Vessel ’000t Shipper/Destination August fob - so the Nordic River and the Marigola may be all the vessels Yara needs for Yuzhny this month. Mitsui will load Gas Snapper 23.3 Nitrochem/Tunisia 5 the 23,000t purchased from NF Trading last month on the Gas Manta 23.3 Nitrochem/Belgium 8 Gas Columbia this weekend. The vessel is expected to head Gas Grouper 23.3 Nitrochem/Morocco 12 YUZHNY, VENTSPILS AND NWE PRICE Nordic River 26.0 Yara/France 13 Clipper Orion 39.9 Koch/US Gulf 15 Yuzhny fob Ventspils fob NWE cfr 750 Gas Snapper 23.3 Nitrochem/Belgium 18 Havis 37.9 Koch/US 21 700 Gas Cobia 23.3 Nitrochem/Tunis+Turk 22 650 Sylvie 23.4 Trammo/Turk+Moroc 23 Pacific 40.0 Yara/S Korea(Mitsubishi) 27 600 Marigola 9.5 Yara/ Israel 28 Clipper Mars 40.0 Nitrochem/US 31 550 Total 333.2 500 Copyright © 2012 Argus Media Ltd Page 2 of 7 Argus FMB Ammonia Issue 12-36 | Thursday 6 September 2012 Baltic Saudi Arabia The Baltic price is assessed at $638-645/t fob, with further Sabic has sold a 23,000t cargo to Mitsui for 2H Septem- price increases likely following the increase in the Yuzhny ber loading at $705/t fob this week. The producer also price to $645/t fob for October, which is likely to mean a this week confirmed that it has confirmed its annual rise in the Ventspils price to $650-655/t fob imminently. supply agreement with SFC, Korea. The agreement is for 300,000tpa in 2013. Yara reported last week that aside from its usual contractual volumes for September, it had purchased a further 16,000t from various suppliers for September The latest loading schedule from KSA is as follows: loading at an average price of just below $640/t fob. Uralchem last week said it sold 7,000t to an unnamed Jubail and RAK loading schedule buyer at $645/t fob for September and expected to achieve Vessel Date Loadport Qty MT Destination $650/t fob on its next spot sales. Rose Gas 14-Sep Jubail 23,000 East Asia Belgium BASF imported an additional 30,000t it is estimated in Brussels 16-Sep Ras al-Khair 23,000 WC India recent weeks due to technical problems at its ammonia plant in Antwerp. The plant is expected to be restarted next week. Gas Oriental 25-Sep Jubail 23,000 Spot MIDDLE EAST & AFRICA Camberly 27-Sep Ras al-Khair 23,000 WC India Egypt OCI EBIC loaded the Tobolsk yesterday from Ain Sokhna for Al-Jabirah 6-Oct Jubail 23,000 East Asia Trammo for delivery to Indonesia and Australia. OCI-EBIC expects to load 1-2 more shipments in September, with the Al-Barrah 8-Oct Ras al-Khair 23,000 East Asia next vessel expected to be the Tomsk for a delivery to the east. Morocco Sabic’s latest shipment on the al-Barrah, which loaded this OCP has confirmed that it will take a planned rolling turn- week for UBE, Thailand has been priced at around $725/t around at the Jorf Lasfar complex reducing DAP/MAP pro- cfr. duction to 260-270,000t/month through to the end of the year. The producer is scheduled to receive two shipments of ammonia from Nitrochem in September/early October out Qatar of Yuzhny. Qafco still has limited surplus ammonia and continues to use all of its surplus availability to cover contractual obligations. INDIA, FAR EAST AND MIDDLE EAST PRICE Iran India cfr Far east cfr Middle East fob PCCI reports that it has stocks of ammonia at the Pardis 800 plants at BIK but there are no vessels currently available which are insured to load out of Iran, other than those 750 operated out of Assaluyeh by Raintrade. 700 ASIA/INDIAN SUBCONTINENT 650 600 Vietnam Mitsui will deliver the 7,000t cargo it was awarded at $780/t 550 cfr last week to Vinachem on the Gas Millennium in late-Sep- tember.
Load more

Recommended publications
  • United States Securities and Exchange Commission Form
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) [ ] REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [X] ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2013 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR [ ] SHELL COMPANY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report ............................................ For the transition period from .................... to ................................. Commission file number 1- 32479 TEEKAY LNG PARTNERS L.P. (Exact name of Registrant as specified in its charter) Republic of The Marshall Islands (Jurisdiction of incorporation or organization) 4th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda Telephone: (441) 298-2530 (Address and telephone number of principal executive offices) Mark Cave 4th Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda Telephone: (441) 298-2530 Fax: (441) 292-3931 (Contact information for company contact person) Securities registered, or to be registered, pursuant to Section 12(b) of the Act. Title of each class Name of each exchange on which registered Common Units New York Stock Exchange Securities registered, or to be registered, pursuant to Section 12(g) of the Act. None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None Indicate the number of outstanding shares of each issuer‘s classes of capital or common stock as of the close of the period covered by the annual report.
    [Show full text]
  • Delegate List As of 1 October 2018
    Delegate list as of 1 October 2018 Job Title Company Country Head of Research and Development Division AB Lifosa Lithuania Technical Director AB Lifosa Lithuania Technical Engineer AB Lifosa Lithuania Abu Zaabel for Fertilizer & Chemical Company Manager of Sulfuric Acid Unit (AZFC) Egypt General Manager ACCS Ltd United Kingdom Director ACCS Ltd United Kingdom Purchasing Director Adisseo France SAS France Managing Director AECI Limited South Africa Commercial Director Chemical Initiatives AECI Limited South Africa Executive & Chemical Engineer AECI Limited South Africa Manager Procurement and Sales Aglobis AG Switzerland CEO Aglobis Group Aglobis GmbH Germany Vice President Marketing & Sales Aglobis GmbH Germany Product Engineer AGRU Kunststofftechnik GmbH Austria . AGRU Kunststofftechnik GmbH Austria General Manager Alberta Sulphur Research Ltd (ASRL) Canada Director of Research Alberta Sulphur Research Ltd (ASRL) Canada Global Segment Director: Chemical Industry Aliaxis Participations SA/NV Belgium Product Manager Ameropa AG Switzerland Director of Sales & Service AMETEK GmbH Germany Global Sales Manager AMETEK Precision Instruments/France France General Director of Technical Policy Apatit, AO Russian Federation Interpreter Apatit, AO Russian Federation Chief Specialist Project Manager Apatit, AO Russian Federation Acid Plants Operations Manager Atlantic Copper Spain Director Sulphuric Acid Aurubis AG Germany Technologist Acid Plant Aurubis Bulgaria Bulgaria R&D Team Leader Aurubis Bulgaria Bulgaria Director Acid & Waste Water Treatment
    [Show full text]
  • Pat Panzarino – Vice President Coal Trading, Trammo, Inc
    Trammo Pat Panzarino Presentation to NCCI 2016 A Trader’s View of The Market. GLOBAL INDEPENDENT RELIABLE Agenda • Gratuitous Trammo Inc. promotion • Quotes I Like • Impacts • Global Coal Factoids • Developments since 2012 and…most recent surprises • Possible future trends/conclusions • Metrics…what should You watch? 2 Trammo Group • Private company founded in 1965 with corporate head quarters in New York • 450 employees in 32 different locations • Worldwide trade volume in excess of 43 million metric tons • Turnover in 2014 of US$ 12.2 billion ranking Trammo as one of the largest private companies in the USA • One of the World's leading fertilizer and industrial commodities trading companies in both in volume and revenue 3 Organizational Structure Trammo, Inc. (New York) Fertilizers & Chemicals Ammonia Gas Division Commodities Division Division Division (incl. SEA-3) Trading in fertilizers, raw Trading in Trading in Trading in & materials, energy related petrochemicals ammonia distribution of LPG products, soft commodities and dry bulk freight 4 Worldwide Offices Moscow Breda Oostvoorne London Poznan HungaryBudapest Meredosia Paris Odessa Newington Bucharest Almaty Beijing West Des Moines Darien Zurich Istanbul Adams Amman Seoul New York Nanjing Woodlands Shanghai Houston Cairo Karachi Tampa New Delhi Taiwan Dubai Dakar Bangkok Ho Chi Minh Singapore Jakarta Sao Paulo Johannesburg Santiago de Chile Buenos Aires Trans Sud Ltda., Chile 32 Offices 9 Agents 1 Joint Venture 5 Group Timeline $ 12.2 billion 1960 1970 1980 1990 2000 2005 in Sales 1965 1978 1985 1992 2000 2010 Founded as Worldwide LPG Purchases Sea-3, Inc.; Establishes Joint Sea-3 of Florida TA Bulk Carriers enters trader of Ammonia trading propane import and Venture with propane import and the commodity shipping marketing terminal in Sinochem for entry marketing terminal business New Hampshire, USA into the Chinese begins operation in fertilizer market Tampa, Florida, USA 2011 Commences Coal 2000 Trading activity 1967 1986 1992 Olefins merchandising Worldwide fertilizer U.S.
    [Show full text]
  • Redstone Commodity Update Q3
    Welcome to the Redstone Commodity Update 2020: Q3 Welcome to the Redstone Commodity Moves Update Q3 2020, another quarter in a year that has been strongly defined by the pandemic. Overall recruitment levels across the board are still down, although we have seen some pockets of hiring intent. There appears to be a general acknowledgement across all market segments that growth must still be encouraged and planned for, this has taken the form in some quite senior / structural moves. The types of hires witnessed tend to pre-empt more mid-junior levels hires within the same companies in following quarters, which leaves us predicting a stronger than expected finish to Q4 2020 and start to Q1 2021 than we had previously planned for coming out of Q2. The highest volume of moves tracked fell to the energy markets, notably, within power and gas and not within the traditional oil focused roles, overall, we are starting to see greater progress towards carbon neutrality targets. Banks such as ABN, BNP and SocGen have all reduced / pulled out providing commodity trade finance, we can expect competition for the acquiring of finance lines to heat up in the coming months until either new lenders step into the market or more traditional lenders swallow up much of the market. We must also be aware of the potential impact of the US elections on global trade as countries such as Great Britain and China (amongst others) await the outcome of the impending election. Many national trade strategies and corporate investment strategies will hinge on this result in a way that no previous election has.
    [Show full text]
  • AFPM 2014 Annual Report
    PROSPERITY FUELING AMERICAN FUEL & PETROCHEMICAL MANUFACTURERS 2014 ANNUAL REPORT AMERICAN ENERGY POLICY AT A CROSSROADS A MESSAGE FROM THE CHAIRMAN OF THE BOARD AND THE PRESIDENT OF AFPM Last year, the United States became the Today, American energy policy is at a For the refining and petrochemical world’s top producer of oil and natural gas, crossroads. The issues at stake and manufacturing industries, 2014 will prove a position that no one would have predicted the policy decisions to be made have to be a pivotal year. As a country, we face just five years ago. As a result, American never been more important. A surge crucial choices as we endeavor to maintain fuel and petrochemical manufacturers in regulations, coupled with a basic access to affordable, reliable and secure now have the opportunity and the ability to misunderstanding of the fossil fuel industry, energy sources. transform the nation’s economic outlook. hampers the ability to establish sound policies and regulations that will enable us Working on behalf of and in concert with Embracing the strong global demand to continue the progress we’ve made toward our members, AFPM will continue to: for high-quality, affordable refined renewed economic growth. petroleum and petrochemical products, • Advocate for a regulatory environment AFPM companies are putting economics Fossil fuels have been an essential part that is straightforward and effective. and infrastructure to work. Refiners are of our daily lives for so long that their true meeting America’s fuel needs, maintaining impact can easily be taken for granted. • Educate policymakers and the public a strategic inventory and becoming a key But make no mistake – they don’t just to ensure the benefits of fossil fuels are exporter.
    [Show full text]
  • Company Overview July 2017
    Waggaman, Louisiana USA Company Overview July 2017 ASX: IPL US ADR: INCZY Disclaimer This presentation has been prepared by Incitec Pivot Limited (“IPL”). The information contained in this presentation is for information purposes only. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. This presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of IPL, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied, is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns (“forward-looking statements”) contained in this presentation nor is any obligation assumed to update such information. Such forward-looking statements are based on information and assumptions known to date and are by their nature subject to significant uncertainties and contingencies. Actual results, performance or achievements could be significantly different from those expressed in, or implied by, this presentation. Forward-looking statements are not guarantees of future performance. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances.
    [Show full text]
  • Argus FMB Nitrogen Formerly FMB Weekly Nitrogen Report
    Argus FMB Nitrogen Formerly FMB Weekly Nitrogen Report Issue 13-06 | Thursday 7 February 2013 MARKET SUMMARY PRICE GUIDE Pause or plateau? FMB nitrogen fertilizer price guide Urea prices have risen nearly $50/t in two weeks to reach 7-Feb 31-Jan $445/t fob Yuzhny. The increase is based on sales for Prilled urea – fob bulk February shipment to nearby markets that are in peak Yuzhny 435-445 408-430 season, principally Turkey and Italy. Baltic 405-430 396-408 Croatia/Romania 455-465 440-450 Traders are selling long positions taken for February and Arabian Gulf 420-425 412-415 making good money on them. However, there is a growing China 420-422 410-415 reluctance to reposition for March, raising the question Brazil (cfr) 430-440 423-430 whether the market is pausing for breath after a rapid run Granular urea – fob bulk up or has reached a plateau. Arabian Gulf all netbacks 410-455 405-455 Arabian Gulf – US netback* 442-454 436-455 Certainly, buyers were deserting the paper market on Arabian Gulf – non US netbacks 410-455 405-450 Thursday and the only trading company buying physical Iran 400-405 395-400 tonnage in Yuzhny this week appeared to be Trammo. Egypt 495-510 495-510 Indonesia/Malaysia 415-444 413-444 Against this, trader positions are dwindling, Latin American Southeast Asia (cfr) 430-435 428-435 buyers are snapping up Baltic cargoes, Egyptian urea Venezuela/Trinidad 420-446 415-439 exports are likely to total less than 100,000t in February US Gulf (pst barge) 432-442 425-442 and Turkey and Italy need more urea.
    [Show full text]
  • Sulphur 2017 Delegate List
    Sulphur 2017 Delegate List company job title country Independent Consultant United States Abtrex Industries International Business Development Principal United States Abu Zaabal Fertilizers & Chemicals - The Polyserve Group Managing Director Egypt Acid Engineering & Consulting, Inc. President United States Adisseo France SAS Purchasing Director France AdvanSix, Inc. Mgr, Global Procurement United States AdvanSix, Inc. Process Safety Process Engineer United States AFEPASA Spain Aglobis AG President Chemtrade Aglobis Switzerland Aglobis AG Manager Procurement and Sales Switzerland Aglobis GmbH Germany Aglobis GmbH Vice President Marketing & Sales Germany AgriChem Marine Transportation LLC Managing Member United States AirBTU, inc. Principal Engineer United States AirBTU, inc. CEO United States Alberta Sulphur Research Ltd (ASRL) General Manager Canada Alberta Sulphur Research Ltd (ASRL) Project Manager Canada Ameropa Trader United States Ameropa AG Product Manager Switzerland AMETEK Fluoropolymer Products Regional Sales Manager United States AMETEK Process Instruments Sulphur Recovery Product Manager Canada AMETEK Process Instruments US Sulphur Recovery Applications United States Aramco Services Company Engineering Specialist United States Argus Media Editor United States Arkema France Strategic Raw Materials Purchaser France Aspen Technology Product Manager United States Aurubis AG Director Sulphuric Acid Germany Aurubis AG Director Germany Aurubis Bulgaria AD Director Bulgaria Axens Sulfur Recovery Technologist France ©CRU Publishing
    [Show full text]
  • Robin Zwiers Acknowledgements
    Erasmus University Rotterdam MSc in Maritime Economics and Logistics 2010/2011 Analysis of the Potential for a Commodity Trader in the Bioethanol Market By Robin Zwiers Acknowledgements Of the many people who have helped me during the process of writing this thesis, I am especially thankful to my supervisor, Lars Klausen who is Chartering Manager for Transammonia, for his help in providing me with important contact details and all the necessary data. Lars always stimulated me in finding new approaches and pushed me towards important solutions. I would also like to express my gratitude to Eelco van Asperen who is Deputy Director of MEL and who guided me and kept me on the right path. A very special recognition needs to be given to Henk van Dalfsen who is CEO of Transammonia, for all his time and efforts for providing me with everything that was required for writing this thesis. Without him, this thesis could not have been written. He not only provided me with the opportunity to combine the thesis process with an internship at Transammonia, but Henk also gave me the opportunity to visit the United States for essential background information that was used in this thesis. I would also like to acknowledge Rod and Fletcher Beeler, from the Transammonia Des Moines office, who gave me a warm welcome during my trip to Des Moines and who were both very helpful in providing me with all their local ethanol information, setting up various meetings and even arranged a visit to an ethanol plant in Iowa. In addition I want to thank all the employees from various offices of Transammonia for supporting and taking care of me during my thesis process.
    [Show full text]
  • Redstone Commodity Update Q3 2015
    The Redstone Commodity Update Welcome to the Redstone Commodity Update 2015: Q3 This quarter has certainly been an interesting one with increased volatility across commodities prices. Diminished Chinese consumption of raw materials married with depreciating foreign currencies has led to many commentators noting that the commodity bear market could be here for a while. However, there is still plenty of recruiting activity with most of our tracked hires taking place in EMEA. Well-financed companies with a long term outlook are certainly finding that they can cherry pick candidates for their business units. Noteworthy Energy Talent Moves With headlines dominated by the price of crude oil and diminishing upstream headcount, the principal focus has remained centred on the sales and trading of refined products. The clear winner in the hiring leagues for Q3 has been the traditional trading house outfit, accounting for over 1 in 4 tracked hires – with scoops for vertically-integrated oil companies having decreased considerably in comparison to 18-24 months ago. Managing Director of Commodities Sales & Structuring David Gallagher has left Goldman Sachs to join Mercuria Energy Group. He was hired as the new head of the Group’s London office and Head of Structuring. David Leavenworth, Attila Konkoly, and Cary Robinson, the former Energy team within Black River Asset Management, have joined Freepoint Commodities in Minneapolis. Leavenworth, leading the team, has been appointed to a Senior Vice President role for petroleum products trading while analysts Attila and Cary have been assigned to Vice President posts. Another hire by Freepoint Commodities was coal trader Adam Giannone in Houston, previously Executive Director with J.P.
    [Show full text]
  • Investor Presentation Fiscal 2019, First Quarter Safe Harbor
    Investor Presentation Fiscal 2019, First Quarter Safe Harbor. This presentation contains certain forward- looking statements concerning Matrix Service Company’s operations, economic performance and management’s best judgment as to what may occur in the future. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, many of which are beyond the control of the Company, and any one of which, or a combination of which, could materially affect the results of the Company’s operations. Such forward- looking statements are subject to a number of risks and uncertainties as identified in the Company’s most recent Annual Report on Form 10-K and in subsequent filings made by the Company with the SEC. To the extent the Company utilizes non-GAAP measures, reconciliations will be provided in various press releases and on the Company’s website. Why MTRX is a sound long-term investment • Diversified, premier North American EPC contractor with focus on select KEY PERFORMANCE TARGETS international markets TRIR / Safety 0 2022 Revenue goal $2+ Billion • Clear vision and strategy backed by growing backlog, strong balance sheet and low capital intensity Net working capital < 6%* EBITDA ≥ 7%* • Organic growth strategy, leveraged to significant North American energy and industrial infrastructure ROIC > 12% needs, supplemented with strategic M&A Construction overhead recovery Full Recovery • Recently refreshed, diversified, and engaged SG&A < 5.5%* Board that is aligned with shareholder interests CAPEX < 1.5%* • Driven by culture of safety, people and Voluntary employee turnover (excluding Craft) < 5% communication, and execution excellence Average annual training hours per employee ≥ 40 • Tenured senior management team *As a percentage of consolidated revenue 1 Our vision To be the company of choice for engineering, constructing and maintaining the energy and industrial infrastructure that people rely on around the world.
    [Show full text]
  • Commodity Update
    The Redstone Commodity Update Welcome to the Redstone Commodity Update 2018: Q4 Fluctuations within oil have continued from a turbulent 2018 with prices falling as stocks held in the US in particular continue to rise. We are consistently seeing a back and forth as Opec cuts production causing a time limited price rise which is then offset by an increase in production from the likes of the US, China and North sea producers as the profit margins increase. Overall Oil was seen as the big loser with regards to pricing last year and this has been reflected in the recruitment levels and specific requirements within the market. Conversely grains, cocoa and precious metals are seen to be the winners of 2018. We have noticed that recruitment interest has been particularly strong within Asia with Singapore leading the way here. Precious metals also finished the year in a stronger position – notably raw materials have struggled with Chinese output falling leading to the government reducing banks reserve requirement levels by 1% in an effort to increase lending by Chinese banks to boost production. All eyes are set to be watching the China – US trade talks which will have significant implications for the global commodities markets. As mentioned in previous updates 2018 has been characterised by underlying fundamental strength within commodities markets being offset by geo-political tensions. Noteworthy Metals Talent Moves Metals has had a mixed year but despite this we have seen increased demand for both steel and base metal traders also backed by an increasing need for larger operations and contracts administration teams.
    [Show full text]