Oman’s biggest cement producer, Raysut Cement, has bolstered its shipping capacity with the addition of a second wholly owned ship, according to local reports.
‘Raysut 2’ is a specialised pneumatic self-discharging cement carrier with a capacity of 16 000 t. It is owned by Raybulk Navigation, a wholly owned subsidiary of Raysut Cement, which is due to commence operations before the end of 2011.
The carrier joins the smaller ‘Raysut 1’, which belongs to Raysea Navigation (another subsidiary of Raysut Cement), as well as two other leased cement carriers. The company exported approximately 313 000 t of cement during the first six months of this year, and it is hoped that the growing shipping fleet will strengthen its export markets.
Meanwhile, reports also suggest that Raysut Cement’s consolidated profit for the first half of this year fell 34.9% to RO8.89 million. The company’s Chairman, Mohammed bin Alawi Ali Muqaibal commented: “The decline in profit is attributed mainly to severe competition faced by the company both in the domestic and the export markets impacting both volume and the price.” He continued: “While the demand in the construction segment will be on the rise with higher demand for cement, competition from the UAE suppliers is expected to continue, dampening the cement industry in Oman for some more time. With the larger growth in the region in the coming years, the situation is expected to improve gradually.”
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