Upper Mississippi River ice tops 5-year average

: Agriculture, Biofuels, Chemicals, Coal, Fertilizers, Metals, Oil products, Petrochemicals
25/02/13

Ice measurements taken Wednesday to gauge when barges can transit the upper Mississippi River exceeded the five-year average, according to the US Army Corps of Engineers (Corps).

The annual Lake Pepin ice reports — taken by the Corps in February and March at Lake Pepin south of Minneapolis — are a bellwether for when barge transit can resume on the upper Mississippi River.

This year's first report found ice at the lake was 19in thick on 12 February, 8in thicker than last year's measurement and 3in above the five-year average.

The Corps' initial report last year found only 11in of ice at the lake, thin enough for waterborne traffic to break through. Subsequent reports were cancelled after the Corps said it would be too hazardous for crews and equipment to take additional measurements.

Locks along the upper Mississippi River are anticipated to remain closed through 3 March, the Rock Island Corps district in Illinois said on 5 February.

By Meghan Yoyotte

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25/03/17

Indonesia’s RMK raises 2024 coal loading, sales volumes

Manila, 17 March (Argus) — Indonesian coal logistics and mining firm RMK Energy raised its coal loading and sales volumes in 2024 compared with 2023 on the back of higher coal production out of Sumatra. The total volume of coal loaded onto barges rose by 19pc to 9.02mn t of coal in 2024, up from 7.56mn t a year earlier, the company said. The increase was because of higher output from mining companies in Sumatra that used RMK for its logistics service, according to the firm. The company's total coal sales rose by 19pc to 2.81mn t in 2024. This was despite lower coal output from its coal mines, which fell by 13pc to 900,120t in 2024 from 1.035mn t in 2023. The decrease was because the company opted to focus on developing new areas, RMK said. The firm moved more overburden material in 2024, which resulted in an increase in the mine's strip ratio and coal cash cost. RMK sourced its coal from other mining companies through its trading arm to offset this, the company said. The company produces GAR 3,000-4,200kcal/kg coal which is sold mainly for blending purposes. RMK has set higher operational targets for 2025 on projections of increased output from Sumatra's mining companies and in order to offset continued weak prices of coal. Total coal sales are targeted to reach 3.8mn t in 2025, a 35pc increase on the year. Barge loading volumes are targeted to reach 11mn t, a 24pc increase on the year. RMK will also focus on improving its logistics infrastructure. This includes the integration of new coal mines such as the Wiraduta Sejahtera Langgeng (WSL) and Duta Bara Utama (DBU) into the company's dedicated coal hauling road as well as upgrades to loading and unloading stations to support higher coal transportation volumes, the company said. By Antonio delos Reyes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Argentina’s inflation continues to ease in Feb

25/03/14

Argentina’s inflation continues to ease in Feb

Houston, 14 March (Argus) — Argentina's inflation continued to ease in February, falling to its lowest since June 2022. The consumer price index fell to an annualized 66.9pc in February from 84.5pc in January and compared with 117.8pc in December, agency Indec reported on 14 March. Inflation peaked at 292pc in April 2024. On a monthly basis, inflation ticked up by 2.4pc in February from the prior month, when it came in at 2.2pc, the lowest since mid-2020. The government is targetting annual inflation to fall to 20pc for 2025, while international agencies and banks put it above 30pc. Lowering inflation is a central tenet of president Javier Milei's government, in office now 15 months, as it works to grow the economy and attract investment. It is also key to a new deal the government wants with the International Monetary Fund (IMF). The government is forecasting growth in domestic product at 5pc in 2025. The economy contracted by nearly 2pc in 2024, an improvement over the 3.8pc decline forecast by the government and the IMF's estimated 5pc contraction. It is hoping for a flood of investment from an incentive law for large investments (RIGI), which was approved last year as part of an omnibus law to reduce the size of the state. The government expects a minimum of $20bn investment to be approved in 2025. A cornerstone of the improvement is a new agreement with the IMF, which will be used to ease capital controls and pay down the treasury's debt with the central bank. On 11 March, the government submitted a draft decree to Congress for approval of the IMF deal. The decree stated that the new IMF facility would include a repayment period of 10 years with a grace period of four and a half years. The decree does not include amounts, but a report from US investment bank Citi stated that it would be between $15-20bn. The government is still repaying the $44bn agreement with the fund agreed to the previous decade. By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU finds no dumping on India HRC

25/03/14

EU finds no dumping on India HRC

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Korea's Samsung SDI to raise funds for battery growth

25/03/14

Korea's Samsung SDI to raise funds for battery growth

Singapore, 14 March (Argus) — South Korean battery maker Samsung SDI is looking to raise 2 trillion Korean won ($1.38bn) to fuel its battery production developments, citing a Hungary plant expansion and its joint venture investment with US carmaker General Motors (GM). The capital raise is based on the mid- to long-term growth prospects of the electric vehicle battery market, given that battery facility investments take 2-3 years to reach mass production, said the firm on 14 March. Samsung SDI previously flagged that it intends to expand its plant in Hungary's God to 40 GWh/yr. The firm in August 2024 signed an agreement with GM to build a two-phase nickel-cobalt-aluminum battery plant that is expected to have a final production capacity of 36 GWh/yr in New Carlisle, Indiana. The joint venture investment will take around $3.5bn. The proceeds will also be used to invest in solid-state battery line facilities in South Korea, said Samsung SDI. The firm launched its first all solid-state battery pilot line back in March 2022 and aims to mass produce solid-state batteries in 2027, which are more stable and have high energy density, it said last year. Its facility investment has quadrupled from W1.7 trillion in 2019 to W6.6 trillion last year, but Samsung SDI expects this to shrink this year, citing "investment efficiency". Samsung SDI's battery usage fell by almost 11pc to 29.6GWh in 2024, according to data from South Korean market intelligence firm SNE Research, given a decline in demand from major car original equipment manufacturers in Europe and North America. By Joseph Ho Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

New Zealand's Genesis Energy signs wood pellet deal

25/03/14

New Zealand's Genesis Energy signs wood pellet deal

Sydney, 14 March (Argus) — New Zealand utility Genesis Energy has signed an initial agreement with biomass developer Carbona to study the viability of commercial wood pellet supply to the Huntly Power Station, supporting efforts to transition it from coal-fired power to wood-fired. Carbona is also building a 180,000 t/yr torrefied wood pellet plant in central North Island, it announced on 14 March. The company plans to sell the pellets it produces at the site to major utilities in New Zealand and abroad, beginning in 2028. Genesis-operated Huntly is New Zealand's largest power station, supplying the country's grid with 1,200MW, and currently runs on gas-fired and coal-fired generators. But Genesis has been exploring opportunities to substitute coal with biomass at Huntly over recent years. Genesis signed a non-binding pellet purchase agreement with Australian biomass producer Foresta last month. The utility at that time said that it would need 300,000 t/yr of torrefied wood pellets by 2028 to achieve its coal reduction goals. Carbona's deal with Genesis also comes just days after the Ministry of Business, Innovation, and Employment released data showing that coal and gas-fired electricity generation across New Zealand collapsed in the October-December 2024 quarter , dropping by 42pc on the year. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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