ArcelorMittal Romanian steel mill in problems as ice blocks transport on Danube.

By bne IntelliNews March 6, 2012
Romania's major steel company, ArcelorMittal Galati, has been unable to ship its exports because of ice blocks obstructing the transport on the Danube and has therefore reduced its operations close to a break-even point, news agency Mediafax reported. Company representatives explained that the decline in the country's exports observed at the end of last year and in early 2012 was partly caused by the difficult transportation conditions on the Danube. Indeed, the first low water levels followed by the freezing of the river (helped exactly by low water level) earlier this year impeded the transportation. In a related piece of news, the grain traders said that large wheat and maize exports have been postponed for the spring of 2012 when ships will be able to travel on the Danube. ArcelorMittal's Romanian steel mill is located on the Danube, close to the Black Sea. Earlier this month vast amount of ice blocked the transportation on the Danube. The company has said that it has blocked the access to the river in order to prevent any potential damages from the ice chunks. The steel company has been supplied with raw materials only by railway and this has increased significantly its operating costs.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  4. Russia’s war economy boosted by rising oil prices
    8 days ago
  5. Russia’s $13.4bn current account surplus in March second highest since 2007
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss