Displaying items by tag: VICEM

Vietnam: The Ministry of Construction has proposed resuming cement sector planning to the prime minister, addressing the critical oversupply affecting the industry. Cement planning ceased six years ago, leading to unregulated project approvals. Vietnam now faces a surplus, with 92 production lines and a total capacity exceeding 120Mt/yr, while domestic consumption lags at under 60Mt/yr and exports are only 30Mt/yr. The construction slowdown exacerbates the issue, with redundant clinker production capacity at approximately 50Mt/yr, leading to risk of cement producers going bust, unless suitable measures are introduced. The latest figures from the Vietnam National Cement Association (VNCA) show that cement plants are running at just 70-75% of their designed capacity.

Deputy CEO of Vicem, Nguyen Thanh Tung, said "Several production lines belonging to our system have to temporarily halt operation, incurred by low consumption and dwindling incomes. Despite all this, we commit to not selling products below the production cost."

Vietnam/US: Several Vietnamese cement companies, including Long Son Cement, Nghi Son Cement, Vicem Ha Tien Cement, Thanh Thang Cement, and Xuan Thanh Cement, raised their exports to the US in early 2024. The reasons for the increase include an ongoing local shortage in the US, Việt Nam News has reported.

In 2023, Vicem Ha Tien Cement and Nghi Son Cement made their first shipments of cement to the US, averaging 40,000t per shipment. Vietnam's cement industry, with a production capacity of 120Mt/yr, is experiencing a surplus of 60Mt. To address this, producers have increased their exports, with the majority of sales going to China, the Philippines, Bangladesh, Taiwan and some Middle Eastern countries.

Vietnam: State-owned Vicem sold 22.6Mt of cement and clinker in 2023, down by 18% year-on-year from 2022 levels. Việt Nam News has reported that the producer exported 2.85Mt of cement and clinker, 85% of its target volumes for the year. For 2024, Vicem aims to achieve full-year sales of 24.3Mt, up by 7.7%.

Vietnam: State-owned Vicem Ha Tien has despatched its first shipment of cement to the US. The Vietnam government says that Vicem Ha Tien will continue to further diversify its markets.

Domestic-focused cement producers like Vicem Ha Tien have experienced increased competition in the past year due to a slowdown in the Chinese market.

Vietnam: The government has directed state-owned businesses, including Vietnam Cement Industry Corporation (Vicem), to take measures to mitigate potential losses of state assets in construction. The Vietnam Investment Review newspaper has reported that a recent audit concluded that companies' equitisation processes created scope for such losses within the sector.

Vietnam: State-owned Vietnam Cement Industry Corporation (Vicem) has projected that national full-year cement production will rise by 1.7% to 118Mt. Meanwhile, the cement market leader believes that demand will rise by 5.4% to 68.3Mt in 2023. This corresponds to an oversupply of 73%, compared to 78% in 2022.

Việt Nam News has reported that the government recorded a 7% year-on-year decline in Vietnamese cement production to 43Mt and a 10% drop in demand to 39Mt in the first half of 2023.

Vietnam: Vicem recorded full-year sales of US$1.68bn during 2022, up by 17% year-on-year. The producer sold 27.5Mt of cement, down by 6.7% year-on-year. Export sales volumes declined more sharply than those on the domestic market. Vicem responded to the cost impacts of economic disruptions arising from the on-going Russian invasion of Ukraine by raising its cement prices. Nonetheless, its profit fell by 30% year-on-year to US$63.9m.

Vietnam News Summary has reported that Vicem is aiming to achieve sales growth of 4% year-on-year in 2023, to US$1.74bn. Export sales growth prospects are strong, since China resumed its import of foreign goods at the end of December 2022. China consumed 54% of all Vietnamese cement exports in 2021.

Philippines: Vietnam Cement Industry Corporation (Vicem) has awarded a three-year, 6Mt cement and clinker import contract to Fenix (CEZA) International and Gold Falcon Trading Corp. The agreement will have effect from 2023 until 2025. ‎Việt Nam News has reported that Vietnam's Minister of Construction, Nguyen Thanh Nghi, and National Assembly chair, Vuong Dinh Hue, attended the contract's signing in Manila.

Declining demand, primarily from China, has diminished Vietnam's cement exports over past months. Vietnam produced 130Mt of cement in 2021, but consumed just 65Mt.

Vietnam: The Ministry of Construction has appointed Bui Xuan Dung as the chair of the Vietnam Cement Corporation (VICEM).

Bui Xuan Dung trained as a civil engineer and holds a master’s degree in business administration. He worked for the Hanoi Construction Corporation from 1995 to 2021 becoming its General Director in 2015. Since 2021 he has held the post of Director of the Housing and Real Estate Market Management Department at the Ministry of Construction.

VICEM is a state-owned cement producer controlled by the Ministry of Construction. It operates 16 production lines at 10 plants and holds around 35% of the country’s market share in the cement sector.

Vietnam: Vietnam Cement Industry Corporation (Vicem) sold 18.5Mt of cement during the first nine months of 2022, up by 6.5% year-on-year from the same period in 2021. The producer's cement and clinker sales volumes totaled 20.9Mt during the period, 71% of its full-year 2022 target.

Vicem recorded a pretax profit of US$60.4m, up by 8.4%. Vicem aims to achieve a US$82.5m pretax profit and increase its revenues by 10% to US$1.49bn.