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TMK Announces 1H 2014 Operational Results - Seite 2
due to reduced oil and gas drilling across Russia.
Shipments of seamless line pipe fell by 18.4% year-on-year to 213 thousand
tonnes and by 2.4% quarter-on-quarter. The decrease was due to postponing
of several trunk pipeline construction and related infrastructure projects.
As a result of lower demand from engineering companies, shipments of
seamless industrial pipe went down by 16.1% year-on-year to 138 thousand
tonnes and 15.2% quarter-on-quarter to 58 thousand tonnes.
The decline in welded pipe shipments by 12.8% to 493 thousand tonnes in the
first half of 2014 is attributable to lower demand for welded line pipe and
large diameter pipe (LDP) in the first quarter. LDP shipments were up 25%
quarter-on-quarter to 96 thousand tonnes due to the launch of several
pipeline projects (Bovanenkovo-Ukhta, Southern Corridor, others.). In the
second quarter of 2014, welded line and industrial pipe shipments amounted
to 77 and 91 thousand tonnes, up 9.7% and 21.3% quarter-on-quarter,
respectively.
(1) This includes shipments from TMK's Russian facilities, TMK-Kaztrubprom
and TMK GIPI to the Russian, CIS and non-CIS markets (excluding the North
American market).
American Division
In the reporting period, TMK's American division, TMK IPSCO, increased its
shipments by 6.8% year-on-year, reaching a total of 592 thousand tonnes of
tubular products(2). Seamless and welded pipe shipments were 256 and 336
thousand tonnes, up 15.1% and 1.3% year-on-year, respectively. Compared to
the second half of 2013, shipments during the first half of 2014 were down
3.7%, mainly due to a decrease of 13.4% in domestic welded shipments, the
result of planned cut-backs in production in response to unfavourable
market conditions caused by a surge in low-priced imports.
In the second quarter of 2014, the division shipped 294 thousand tonnes of
tubular products, down 1.5% quarter-on-quarter, with seamless pipe
accounting for 126 thousand tonnes (down 3.6% quarter-on-quarter). Welded
pipe shipments amounted to 168 thousand tonnes, virtually unchanged
quarter-on-quarter.
While US shipments of welded OCTG were down year-on-year, this drop was
offset by an increase in shipments to Canada. Quarter-on-quarter, welded
OCTG shipments were down 3%.
Shipments of seamless OCTG pipe rose by 16.3% to 197 thousand tonnes in the
first half of 2014, while remaining flat quarter-on-quarter at 99 thousand
tonnes.
As several infrastructure projects were completed, the division saw reduced
demand for seamless line pipe, which resulted in a 39.7% year-on-year drop
first half of 2014 is attributable to lower demand for welded line pipe and
large diameter pipe (LDP) in the first quarter. LDP shipments were up 25%
quarter-on-quarter to 96 thousand tonnes due to the launch of several
pipeline projects (Bovanenkovo-Ukhta, Southern Corridor, others.). In the
second quarter of 2014, welded line and industrial pipe shipments amounted
to 77 and 91 thousand tonnes, up 9.7% and 21.3% quarter-on-quarter,
respectively.
(1) This includes shipments from TMK's Russian facilities, TMK-Kaztrubprom
and TMK GIPI to the Russian, CIS and non-CIS markets (excluding the North
American market).
American Division
In the reporting period, TMK's American division, TMK IPSCO, increased its
shipments by 6.8% year-on-year, reaching a total of 592 thousand tonnes of
tubular products(2). Seamless and welded pipe shipments were 256 and 336
thousand tonnes, up 15.1% and 1.3% year-on-year, respectively. Compared to
the second half of 2013, shipments during the first half of 2014 were down
3.7%, mainly due to a decrease of 13.4% in domestic welded shipments, the
result of planned cut-backs in production in response to unfavourable
market conditions caused by a surge in low-priced imports.
In the second quarter of 2014, the division shipped 294 thousand tonnes of
tubular products, down 1.5% quarter-on-quarter, with seamless pipe
accounting for 126 thousand tonnes (down 3.6% quarter-on-quarter). Welded
pipe shipments amounted to 168 thousand tonnes, virtually unchanged
quarter-on-quarter.
While US shipments of welded OCTG were down year-on-year, this drop was
offset by an increase in shipments to Canada. Quarter-on-quarter, welded
OCTG shipments were down 3%.
Shipments of seamless OCTG pipe rose by 16.3% to 197 thousand tonnes in the
first half of 2014, while remaining flat quarter-on-quarter at 99 thousand
tonnes.
As several infrastructure projects were completed, the division saw reduced
demand for seamless line pipe, which resulted in a 39.7% year-on-year drop
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