CemWeek Magazine: January/February 2018

GLOBAL CEMENT INDUSTRY KNOWLEDGE

ISSUE 42

January/February

LEADERS Q&A

Stelios Sycopetrides Deputy General Manager and Operations Manager at Vassiliko Cement Cement Equipment

A green and automated future Blockchain Technology

A Game Changer for Bulk Logistics?

News

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Analysis

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Market Coverage

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Interviews

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People

EDITOR’S NOTE Letter from the publisher and editor

The CemWeek Magazine is published by the CW Group LLC PO Box 5263 Greenwich, CT 06831, USA www.cwgrp.com www.cemweek.com

STAFFBOX The unbearable lightness of automation

ROBERT MADEIRA

Automation is such a scary word. As soon as it surfaces, it brings along a legacy of futuristic and dystopian narratives where machines rise, and all that is left for us, humans, to do is contemplate as they take over.

Margarida Cunha

But what does automation mean for the cement industry? CW Research has profiled the current status (and looked into the future) of the world cement equipment sector, only to find automation is projected to stand out as the fastest growing equipment sub-segment.

In an industry where cement makers are seeking to centralize information and increase efficiency, this is hardly surprising. Going hand in hand with the automation sub-segment, the environmental one is also projected to record a boost, as cement companies strive to comply with increasingly strict regulations.

No longer a plan B, environmental practices have become so commonplace in the cement sector, they may soon not be called “environmental” anymore. Stelios Sycopetrides, Deputy General Manager and Operations Manager at Vassiliko Cement, talked to us about how green measures are progressively shaping the company’s cement production process. From reducing the amount of imported conventional fossil fuels to researching and developing alternative fuel sources, Sycopetrides takes a look at Vassiliko’s road towards modernization.

There is still much for us, humans, to do. No matter how much machines can help us produce, pack and use cement, a human brain will always be an instrumental part of the mix. How can cement remain competitive on its way towards a green and automated future?

How can it keep its commercial appeal without sacrificing its core features? Automation can be the excuse we need to come up with solutions we chose to postpone for so long.

Automation is not a scary word. It’s a liberating principle.

Bring in the future!

ROBERT MADEIRA

CEMWEEK PUBLISHER HEAD OF CW GROUP RESEARCH

Margarida Cunha

Editorial Coordinator

CEMWEEK PUBLISHER HEAD OF CW GROUP RESEARCH

Editorial Coordinator

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Filipe Gouveia Raluca Cercel Rui Correia Tea Vukicevic

CONTRIBUTING WRITERS & RESEARCHERS

Diogo Vieira SANTOSH SHETTYE DESIGNER

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CW Analytics

contents FEATURES 4 Leaders Q&A: Stelios Sycopetrides

Stelios Sycopetrides looks back on Vassiliko Cement’s 50 years of history and discusses how the company has shaped its presence in the international cement market through a constant focus on green initiatives and social responsibility principles.

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10 CW Research: Automated & Green – The future of the cement equipment market While capacity additions will be slowing down in the next five years, a surge in upgrades will be driving future consumption of cement equipment.

18 Blockchain Technology: A Game Changer for Bulk Logistics?

Blockchain is the latest in a long line of hype-driven technologies that is almost impossible to escape. From tracking tuna to tamperproof money transfer, it seems to be a game changer for business and society

10 DEPARTMENTS 1 EdiTor's letter The unbearable lightness of automation

32 cw group meeting agenda CW Group’s upcoming events

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3 numbers in brief Improving cement demand in most regional markets has led to an improvement in cement ex-works pricing in the third quarter of the year.

24 Research Cement Volumes 26 Departments People Equipment 2

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33 BUZZ Top 10 CemWeek, BMWeek and PetcokeWeek stories

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numbers in brief

Cement pricing driven by growing demand across geographies Improving cement demand in most regional markets has led to an improvement in cement ex-works pricing in the third quarter of the year.

In Sub-Saharan Africa, ex-works pricing in the third quarter of 2017 almost reached USD 140 per ton, while at the other extreme of the range, Chinese ex-works prices were a little under USD 35 per ton of cement. For the last quarter of 2017, cement ex-works pricing in China is likely to improve by more than 20 percent quarter-on-quarter, as the shrinking offer for cement will impact competitive forces in the market.

CHART: Cement regional average ex-works pricing (USD/ton)

Note: 4Q2017 data is estimated and subject to change Source: CW Research, CW Global Trade Price Report

Retail-wise, cement prices in France remained stable at around USD 260 per ton in September and in December 2017. For the United States market, we expect the unseasonal high demand for cement of December 2017 to lead to a three percent increase in trial pricing (for the September to December 2017 period). In neighboring Mexico, after a tumultuous period of debates between construction companies and cement manufacturers over the rapid growth in cement pricing, December 2017 closed with retail cement pricing seven percent lower than the prices of September 2017.

CHART: Cement retail pricing (USD/ton)

Note: December 2017 data is estimated and subject to change; Domestic pricing converted from local currency to USD Source: CW Research, CW Global Trade Price Report

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Leaders Q&A About Vassiliko Cement Vassiliko Cement Works Public Company Ltd was established as a public Company in 1963, and started its operation in 1967 with annual production of 150.000 tons. The company has been listed on the Cyprus Stock Exchange since 1996.

The factory of Vassiliko Cement Works operates in the Vassiliko area, between the cities of Limassol and Larnaca, in Cyprus. The location was chosen in view of its abundance and excellent quality of raw materials and proximity to the sea.

The company operates in clinker and cement production sectors and manages four quarries for the extraction of raw materials, which are used exclusively for the production of cement.

Cyprus

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Vassiliko Cement

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www.cemweek.com Copyright Š Free Vector Maps.com

Stelios Sycopetrides

Vassiliko Cement Deputy General Manager - Operations Manager

Stelios Sycopetrides looks back on Vassiliko’s 50 years of history and discusses how the Cypriot cement company has shaped its presence in the international cement market through a constant focus on green initiatives and social responsibility principles.

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Leaders Q&A Q: Vassiliko Cement has been active in the cement market for more than 40 years. How do you describe the main role and focus of the company nowadays?

A: Vassiliko Cement aims to improve its practices and products to ensure sustainable growth and competitive advantage in its targeted markets for years to come. To invest in technological upgrades, human capital development and in a responsible attitude towards all its stakeholders are among the steps the company is taking in order to advance to higher levels and set the bar even higher.

Additionally, Vassiliko Cement focuses on monitoring and mitigating cost burden.

The quality of products and services is second to none, so we can maintain a competitive advantage within local markets and remain an exporting preference in our segment. Vassiliko Cement also has a strong commitment to respecting the environment, by investing in new technologies and Research & Development. By the same token, the company places great emphasis on Corporate Social Responsibility practices by supporting local communities, the environment and education initiatives.

Q: On a global scale, what are the main economic challenges impacting Vassiliko Cement?

A: Price trends of conventional fuels, and consequentially additional electricity costs in relation to the competition, are posing a major challenge. In order to counteract and monitor these costs, the company must maximize efficiency and increase the use of alternative fuels to the maximum possible without compromising other vital KPIs, such as product quality and kiln stability. Supply surplus vs high demand is also a challenge that requires a competitive advantage. Through high efficiency and a high-quality product, we aim at retaining the preference of potential customers, even at higher productions costs.

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Q: Currently, what are the most pressing challenges for the European cement industry?

A: The cost of purchasing CO2/greenhouse gas emissions allowances is constantly increasing – contributing unfavorably to competition with non-European countries.

Investing in the production of advanced concrete types is one of the greenest, most effective and most durable solutions for building households and infrastructure.

The company must maximize efficiency and increase the use of alternative fuels

Q: What can be done to make alternative fuel usage more attractive to cement companies?

A: In order to monitor costs and gain advantages in relation to product sales/ margins and market expansion/exports, and to have a greener approach, alternative raw materials and fuel usage are a major challenge.

Constantly researching, developing and accessing different qualities and properties of a variety of alternative fuel sources to ensure an optimum blend is the key to effectively replace the maximum quantity of imported conventional fossil fuels, and thus cut costs. The quality of alternative fuels is the most important parameter for its utilization in large quantities in the cement industry.

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The clinker production process requires fuels with consistent characteristics, such as high calorific value, low moisture content, small particle size, etc. Investing in advanced mechanical biological/thermal treatment technologies can assist in the production of high-quality alternative fuels for the cement industry and in replacing a large fraction of conventional fuels. Source separation of municipal solid waste can also have a significant impact on the possibility of producing high-quality alternative fuels, since the residual fraction will have improved characteristics as a raw material for alternative fuel production.

The close collaboration and support of a cement company with national authorities and the legal framework can make alternative fuel usage more attractive to the cement industry.

Q: Nowadays, no company survives if it does not invest significantly in technology and innovation. How does Vassiliko Cement invest in new technologies? What are the solutions to modernize a company with 50 years of history?

A: Vassiliko makes sure to promptly invest in and upgrade to the Best Available Technology (BAT), relevant to cement production/process optimization. This fully automated and dynamically innovative process is achieved through in-house ideas and high-skilled professionalism/ capital by constantly optimizing practices/ processes. Vassiliko Cement invests both in new technologies and people, lighting up the path for making the company a

modern and competitive organization in the cement Industry sector. In relation to technological advances, Vassiliko Cement’s new clinker line uses state-of-the-art machinery and available technology for clinker production. Since 2015, Vassiliko Cement has launched the operation of a modern alternative fuels and raw materials feeding system. On a yearly basis, new projects are approved related to energy efficiency and alternative fuels utilization.

Vassiliko has its own R&D department performing tests with new raw materials and fuels. VCW has kept improving the main KPIs, such as specific electrical energy consumption per ton of cement, % thermal substitution with alternative fuels, etc. since the commissioning of the new clinker production line in 2011. Vassiliko Cement invests in various aspects of its human capital, considered to be its prime asset over competition, by exploiting and training its competences.

Moreover flexibility, interchangeability and successful planning are the main priorities of our HR practices. Vassiliko is proud of – and widely recognized for – not standing still and stalemated, but rather keeping on trying new things through experimenting, developing and researching.

Flexibility, interchangeability and successful planning are the main priorities of our HR practices Q: How important are environmental considerations for Vassiliko Cement?

A: Environmental compliance and best practices, sustainable development, and growth are as important for the Vassiliko team as increasing shareholders’ funds. Reducing emissions is of prime importance. Among other actions, a new clinker silo is under construction that will eliminate clinker storage in open areas and dust related to movement of the material.

A special ship loader to minimize dust emissions during clinker loading has also started operations in 2017. All emissions are checked on site and monitored through various BAT throughout the processes, and flue gases are inspected by analyzers, who check, correct and benchmark them against the industry’s best practices, making sure they conform to legislative directives.

Over the last six years, Vassiliko Cement achieved a drop of carbon dioxide emissions by 15-20%, reduced water consumption in the production process by 70% and reduced electricity consumption by more than 30% for cement production.

Substantial budget is always allocated, even in adverse periods, towards improving the company’s environmental footprint,

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Leaders Q&A health and safety, and maintainability projects, working conditions of all personnel, and overall life quality of the neighboring community’s flora and fauna.

A sense of ownership is targeted for all its stakeholders.

Q: What is the Corporate Social Responsibility of Vassiliko Cement?

A: Corporate Social Responsibility constitutes one of Vassiliko Cement’s corporate principles; it is embedded in the company’s mindset, governing its business activity through initiatives aiming at upgrading the living standards, the cultural level and at protecting the environment.

At Vassiliko Cement we share a common vision. Based on this vision, we should develop all of our activities adhering to the code of ethics and in a socially responsible way, minimizing any impact, as we are all members of a society requiring greater sensitivity and cooperation.

Corporate Social Responsibility constitutes one of Vassiliko Cement’s corporate principles

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Vassiliko is constantly researching and developing advanced quality and greener products to overcome the industry’s expectations

Having incorporated the Sustainable Development Goals into our strategy, we take bold and transformational steps ahead towards a sustainable and resistant path. Aimed at better responding to our corporate values and principles, we have proceeded to dialog with our social partners, so as to assess what is important and meaningful to them concerning our company. Our CSR mission is to be a successful company with an increasing value, operating always under full transparency and showing respect to people.

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Q: What are Vassiliko's main expectations regarding the cement industry?

A: Construction businesses should identify the greenest and most sustainable solutions for concrete production in the cement industry. Vassiliko is constantly researching and developing advanced quality and greener products to overcome the industry’s expectations, as well as solidify its market position within the domestic sector.

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FEATURE

Autom & Gree

CW RESEARCH

The future of equipmen

CW Research profiles the current status of the world cement equipment sector, and explores how production rationalization and stricter green policies are shaping future market trends.

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mated en

the cement nt market

Photo Courtesy of FLSmidth

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FEATURE

W

hile capacity additions will be slowing down in the next five years, a surge in upgrades will be driving future consumption of cement equipment

will be scarce. Cement capacity additions have been undergoing a gradual decline in the past five years, mostly driven by a steady decrease in new capacity in the Chinese market, which is currently trying to rid itself of overcapacity and inferior quality cement.

Declining capacity additions in the future of the cement industry

In the rest of the world, commissioned additions peaked in 2016, following a number of investments in the cement industry of mostly importing markets in Africa and Asia. In turn, these

A global decline in capacity additions is expected, comparing the previous five years with the next five. The cement industry is now struggling with overcapacity, particularly in markets where the drive to open new capacity has manifested itself quite chaotically. Despite the fact that global cement demand is expected to improve steadily at an annual average rate of around two percent, additional capacity

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The cement industry is now struggling with overcapacity

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projects resulted from a positive market momentum in the industry in 2013 and 2014, when investor confidence was still strong. That is not necessarily the case today, nor in the future, with expansionary drives having already simmered down in Africa – a scenario that is likely to happen also in Asia ex-China in the next five years.

In terms of industry trends regarding the types of capacity expansions, plant expansions are shifting towards a higher share of grinding units out of the total, going up two percent points in the next five years. Many manufacturers now prefer to enter the market with a small grinding plant, especially where cheap clinker imports are an option – as the commodity is getting increasingly low-priced – and then convert it later on into an integrated one if the move proves profitable and if the market case is sufficient.

In large markets, such as India, some manufacturers also prefer to commission one integrated plant with a handful of satellite grinding stations geographically dispersed.

This is the case especially if the integrated plant is located far from urban consumption centers, and infrastructure is poor. The manufacturer will then set up grinding plants in the vicinity of urban centers.

In terms of greenfield and brownfield expansions, CW Research expects a rapidly shifting trend from the first to the latter by 2022, as the cement industry matures in emerging markets, such as Asia ex-China and Africa, and cement manufacturers invest in new lines at existing locations.

The cement equipment market size is stabilizing The market size for cement equipment in 2017 is USD 9.3 billion, and is expected

The market size for equipment is declining to remain stable in the upcoming years.

A steady decline in capacity additions will strongly pressure the total market size downwards, as greenfield projects will be falling at a 14.9 percent CAGR for the next five years, while brownfield projects will be decreasing at a more moderate pace at a 2.5 percent CAGR, as the market adapts to a new reality.

Acting as a panacea to the negative environment present in the market, upgrades will be driving the cement equipment market upwards in the next five years, surging at a 10.8 percent CAGR. This rise in upgrades will be owing to a large scale renovation in the Chinese cement industry in the next five years, as the government implements measures to stop the production of low grade cement, and implements higher electricity tariffs for inefficient cement manufacturers. As a result, producers will invest in newer production equipment, and players who don’t adopt this posture will see their margins reduced, and ultimately driven out of the market.

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FEATURE Looking at all the different segments for the cement industry, we can observe that high technology functional equipment will be the main driver for the market in the future. Subsegments such as automation and control (+3.6% CAGR) and environmental (+1.5% CAGR) will be growing in market size, despite lower capacity additions. When it comes to automation, we expect it to become more diffuse and grow in popularity even in emerging economies, as players strive for higher efficiency and aim to minimize human error at plant level. On the other hand, with environmental legislations tightening, higher requirements for dust and gas emissions at a plant level are expected, which in turn will generate the need for more efficient and technological solutions.

On the other side of the coin, kilns, precalciners and equipment used for the preparation of raw meal and fuel are expected to see their market sizes shrink, driven by a decline in pricing. These

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equipment pieces are of lower technology and are therefore more susceptible to pricing pressure.

When it comes to cement grinding, while the market is expected to decrease, it will

only be at a 0.8 percent CAGR, that is, a smaller pace than the majority of the other equipment types. This piece of equipment often benefits from premium pricing, as brand and quality are the main decision criteria for purchase. This

Average equipment cost per ton of commissioned capacity (USD/ton)

Note: Weighted average on regional preferences for equipment. Western and Chinese division based on regional distribution of equipment manufacturers Source: CW Research

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is owing mostly to cement manufacturers privileging equipment processing the final product, making it therefore more vital for the success of the cement plant, in opposition to other processes that happen backstage.

Geographically, we expect Asia exChina to be the main market for cement equipment in the next five years, as the region continues to develop its cement

The pricing gap between Chinese and Western cement manufacturers is closing

industry, and importing markets achieve self-sufficiency. Middle East is also a standout, although in a smaller scale, as the countries in the region will see an improvement in capacity commissioned.

This is owing to plants commissioning date, which was scheduled for 2017, being delayed to 2018, as cement manufacturers were intimidated by a negative economic performance. The region is expected to stabilize by 2022, with projects expected to start up in Iran, Iraq and Saudi Arabia.

Competition and the future of the industry The market size for equipment is declining, and has been doing so for the last five years at a steady annual rate of 7.8 percent. Nevertheless, it’s expected to stabilize in the upcoming five years, dropping only at an annual rate of 0.7 percent. A decreasing capacity is the major reason behind this trend, which is driving the total market size for plant expansions downwards. In turn, this is boosting the competitiveness between different types of manufacturers, thus contributing to a pricing decline, and, consequently, to a decrease in market size.

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FEATURE Cement equipment market size* (USD bn)

Source: CW Research Note: *Refers to the market size of commissioned (not awarded) equipment

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Western equipment manufacturers are trying, and so far succeeding, to keep pricing above the floating line. In spite of looming competition from Chinese counterparts, Western suppliers single themselves out through a combination of superior equipment and value-added services. The latter are meant to strengthen the relation with the client in the long term, assuring a string of returning customers.

Additionally, as suppliers cannot easily drive up the price of equipment, offering value-added services is a common strategy to secure projects.

In terms of market share by equipment providers, the pricing gap between Western and Chinese players is gradually closing. In 2012, the average price practiced by a Chinese supplier for a new project would be less than half of its Western counterpart’s. That is not currently the case. On one hand, Western cement manufacturers are trying to improve their cost efficiency, and offer lower prices in order to capture a larger slice of the market. Chinese equipment providers, in turn, are aiming to raise the quality of their equipment, and

labor costs are rising, resulting in a gradual increase in prices.

Cement upgrades in the forthcoming years are expected to rise

The future for these manufacturers is strongly dependent on the outlook for the cement industry. 2016 was a timid year for the global economy, and while 2017 has showed signs of a more robust environment, it remains uncertain whether this trend will remain. On one hand, if this positive trend spirals upwards, it could drive investment confidence upwards, and improving conditions in the cement manufacturing industry could lead to higher capacity additions. On the other hand, if cement demand expands at a slower rate than expected, new projects are expected to remain more and more spread out, hindering margins for equipment manufacturers and pressuring prices to a record low. In this scenario, we expect that the cement equipment market could play out in a similar way as the cement manufacturers’ one, with mergers and acquisitions becoming more common.

About the report The World Cement Equipment Market and Forecast Report addresses important market dynamics and provides a five-year outlook for equipment used in the production of clinker and cement, integrated as well as grinding units.

Building on a rigorous analysis of past and future cement plant capacity expansions (greenfield and brownfield expansions), the report covers all production stages, from raw material grinding to final cement dispatch.

Key trends in the main production equipment segments are discussed, sized and forecasted (in USD value and capacity, where applicable), broken down into geographic segments (regions and global by equipment type).

More specifically, process-wise, the report covers equipment required in crushing (crushers), milling (raw meal mills, fuel mills, finishing mills), power (electricity generation and waste heat recovery), pyro processing (burners, pre-heaters / cyclones, kilns, coolers, alternative fuel preparation), and dispatch (weighing, bulk loading, bagging and palletizing equipment) is sized and forecast.

Within the principal segments additional details are provided, including mills (vertical roller, ball and roller presses) as well as other equipment such as conveying, storage (silos, stackers / reclaimers), automation, motors, environmental & emissions (e.g., filters and scrubbers), and testing and control functions are extensively covered.

More information about the report can be found here: https://www.cwgrp.com/ research/research-products/product/265world-cement-equipment-market-andforecast-report

For more information and placing an order, please contact Liviu Dinu, Market Services & Marketing Consultant, CW Group (Europe), by phone at +40-744-67-44-11, or e-mail at ld@cwgrp.com.

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FEATURE

Technol

A Game Changer for Bu 18

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logy:

ulk Logistics?

Blockchain is the latest in a long line of hype-driven technologies that is almost impossible to escape.

From tracking tuna to tamperproof money transfer, it seems to be a game changer for business and society. Understanding the rules of this technology, however, lags well behind the innovation.

How does a blockchain work and what role can it play in bulk material logistics?

By Thomas Bergmans and Dirk Schlemper, INFORM GmbH, www.inform-software.com www.cemweek.com

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FEATURE packed my bag” is a popular memory game for kids. One person says "I packed my bag and in it I put...", followed by any object they like. The next person then repeats what the last person said, and adds their own selection to the end, and so on. Everyone knows what’s inside the bag at any given time. Cheating is nearly impossible, provided that all players have good memory skills.

A modern variation of this game is called “blockchain” and it is played online.

Instead of bags and objects, blocks are used to store transactions. Memory skills are not needed. Players rely on computer power to create an electronic key which securely locks the transaction information inside the block. And to make it fool-proof, each new block has a cryptographic link to the previous one so that no information gets lost and no player can alter the content without being noticed.

figure 2.

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Mining Bitcoins At its simplest level, blockchain is a tamper-proof, transparent database of transactions across a network of decentralized computers, sometimes also called Distributed Ledger Technology (DLT).Transactions may be financial (money transfer), non-financial (record management, supply chain certification, voting platforms), or semi-financial (smart contracts). Bitcoin has been the first and most successful player to implement blockchain so far. Developed in 2008, the crypto currency has sparked a digital gold rush that continues to push its value to ever-higher levels. And similar to gold, bitcoins are created and transferred through a process called “mining”, in which the solving of a cryptographic problem is rewarded with new bitcoins, see figure 2.

This multi-stepset-upmakes Bitcoin technology one of, if not the, most secure form of transferring money online.

However, the built-in security comes at a high price. The mining process requires lots of computing power and thus energy.

Some estimates say that the global energy spent on Bitcoin mining has far exceeded the electricity consumption of a country like Ireland. Others claim that a single Bitcoin transaction consumes enough energy to power almost ten households in the US for an entire day. While it is difficult to verify the accuracy of these numbers, the bulk of Bitcoin mining today is done in countries where energy costs are low (e.g. China).

And there’s more on the flip side of the Bitcoin. All transactions that ever happened on the blockchain are publicly visible. And everyone can access the blockchain and participate in the verification and consensus process. While this openness works great for a public crypto currency, many companies prefer

to play their cards close to the chest when doing business. A cement producer, for example, neither wants to reveal the details of a deal to the market, nor have one of its competitors approve the deal.

Playing at Enterprise Level To reduce the number of players and moves they can make, new types of blockchain entered the scene: private and consortium.

• In a private blockchain, access permission is restricted by a central organization. Only a pre-approved group of members is allowed to send transactions and/or participate in the consensus process. Read permissions, however, may still be made public, or restricted to selected groups.

• In a consortium blockchain, only the consensus process is controlled by a selected group. The route taken by any consortium as to read access, write access, and consensus, depends on the goals of the consortium and the specific use case.

The multi-step set-up makes Bitcoin technology one of, if not the, most secure form of transferring money online Both types limit participation to authorized users which in turn can cut infrastructure costs and energy

consumption while increasing transactional speed at the same time.

How can these new rules be applied to use cases in our industry?

Due to its closed network character, private blockchains can play an integral part as intra and inter-company transactional system. They can help to overcome silo mentality which is still commonplace in many cement plants. Supply chain information is hardly shared between departments, leaving it inaccessible to the rest of the company or business partners. A private blockchain could become a single source of information and all data about a specific product or flow is instantly made available to every party involved in the supply chain. What’s more, their strong cryptographic power offers increased security, auditability, and compliance mechanisms.

Consortium blockchains have the potential to pave the way for paperless trade. An electronic substitute to the traditional bill of lading or delivery ticket (docket) has been the bulk industry’s Holy Grail for many years. Incement shipping, the consortium could comprise participating banks, importer, exporter, ports of sending and receiving countries, custom officials, etc. All parties can issue, transfer, endorse and manage shipping and trade related documents through a secure decentralized network. Regardless of the blockchain type, an accurate record of possession and title can be maintained without the need for paper processing or a centralized intermediary.

Follow the Rules A rulebook sets the framework for any board game. And if you unfold the blockchain to your supply chain, smart contracts can administer the rules for all participants. Smart contracts are selfexecuting agreements which work – similar to software code – on the if/then principle.

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FEATURE

They automatically trigger actions or payments once certain conditions are met.

Simple example: If a haulier has completed a bulk shipment of, let’s say, 500 tonnes, then he requests approval by the end user.

If they confirm quantity, quality, and ontime shipment, the cement producer and the haulier get paid.

Smart contracts with embedded business rules promise to reduce transaction costs and they excel where frequent transactions occur across a network of parties and manual or duplicative tasks are performed for each transaction. The blockchain acts as a shared database to provide a secure, single source of truth, and smart contracts automate approvals, calculations, and other transactions that are prone to lag and error.

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Game of Trust Trust is a powerful currency in any business. Most companies rely on a seller’s reputation to decide whether or not to buy from them. They also rely on

Consortium blockchains have the potential to pave the way for paperless trade the support of a strong financial partner to stem transactions and the ability of a

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legal system to help them if something goes wrong. Blockchain has been dubbed as the “network of trust” that comes without the need for a central authority or any third-party intermediaries. This is true, but a blockchain does not magically make the entries in a block trustworthy, let alone the people who created them.

Here’s an example: If status information from the weighbridge at a cement plant is entered into the blockchain, who or what guarantees that the data is accurate and not manipulated? Or who guarantees that the shipped white cement complies with the specification? The blockchain cannot guarantee this. Instead, it warrants that the data in the blockchain hasn’t been tampered with, but it does not warrant the data’s authenticity. However, the key advantage of

Why you can't cheat at Blockchain 01 Everyone is working on block 41.

02 One player wants to alter a transaction block 13.

03 He'd have to make his changes and redo all calculations from block 13 to 40. i.e. 28 block of computing.

04 And he'd have to do block 41 before all others in the network finish their work on block 41. figure 3. a blockchain system is that it offers a method to self-validate documents in a peer-to-peer network, which makes the entire process fast and safe. It does not force people to use specific third-parties. It is their choice to connect them to the blockchain, if their services add value or trust to the process.

Other Games on the Shelf As the examples have shown, blockchains can turn supply chain management into a cooperative game. All players along the entire supply chain will benefit from automated, secure, and faster transaction flows. But this technology will not be able to tackle all challenges of a supply chain.

Decision-making in logistics operations is complex and intricate. Each decision

has multiple flow-on decisions that, in turn, complicate future decisions – on a strategic, tactical, and real-time level.

Trust is a powerful currency in any business A blockchain does not give you any advice on where to set up new depots or plants or what’s the best customer/depot allocation.

A blockchain does not come up with a

delivery schedule and a truck or haulier assignment for the following shift(s). And a blockchain does not constantly review and adjust all planning decisions– right up to the moment before execution.

But, like blockchain, latest transport planning and optimization tools use algorithms that analyse a virtually endless number of scheduling decisions in realtime and identify those that are ideal for minimising costs and maximising service quality – based on the business criteria defined. These solutions allow operators to make incredibly complex, time-critical decisions with ease. What's more, the decisions made take into account a larger range of variables than the human mind can, resulting in better overall decision quality. This in turn leads to increases in efficiency and savings across the entire supply chain (see Cemweek, Aug/Sep 2016, p11-13).

However, information from the blockchain can be fed into the transport optimization tool to further improve the decision-making quality of the software.

Getting Started No matter where you see the benefits of blockchain technology for your business, senior managers in the cement industry should become educated on how it works and encourage their logistics and sales teams to do the same before the customer base imposes standards and leads the way.

Choosing to leverage blockchain is not just a technology question; it is a decision that will transform and streamline business models and processes, and reshape the relationship with all stakeholders. On a closing note, cement producers hesitating to invest in blockchain technologies can find further advice from Albert Einstein: “You have to learn the rules of the game. And then you have to play better than anyone else.”

www.cemweek.com

August JANUARY/FEBRUARY / September 2016 2018

23

CEMENT MARKETS

CW Research

Cement Volumes

Saudi Arabia’s cement production faced a decrease of 14.8 percent and 16.5 percent year-to-date decline in production to November, due to the continuing slowdown of the domestic construction industry.

Indian cement production decreased 3.6 percent year-to-date until November, due to the latest hike in the import duty on petcoke to 10 percent.

The cement industry is the largest user of petcoke in the country. Additionally, contrary to the first half of the year, housing and infrastructure construction activity was less intense due to new regulations to ensure better home buyer protections, alongside with a shortage of sand, and political instability, causing a cement price hike of five percent.

On the back of the continuing recovery of the economy, as well as of growing residential and infrastructure construction, cement demand in the United States rose by two percent yearto-date in September. Spending directed towards the infrastructure sector, though not as significant as private spending for residential projects, has also helped sustain the growth of cement demand in the United States. The government also plans to reduce taxes in the construction sector, thus potentially giving the cement industry a boost.

Saudi Arabia’s cement production faced a decrease of 14.8 percent and 16.5 percent yearto-date decline in production to November, due to the continuing slowdown of the domestic construction industry. The collapse of oil prices brought construction projects to an end, and major contractors to the edge of insolvency. In addition, the government continues to maintain the export tax of 50 percent implemented in July 2016. Nonetheless, the cement industry

expects to grow in 2018, thanks to the incentives of the government to increase spending in construction companies and basic materials.

The Chinese government’s environmental sustainability effort shave led to a cement output cut, materializing into a decrease of cement production by 0.2 percent year-to-date up until November. A supply shortage of cement since September generated an increase of concrete prices, as well as suspensions on construction projects, including key governmental projects, due to disorderly price spikes and artificial supply shortages of raw materials. The government has gradually imposed administrative constraints on the supply side of cement production through such measures as shifting production to the peak, raising electricity prices and further strengthening environmental protection.

Cement demand decreased by 3.4 percent year-to-date to August 2017 in Greece. The country’s still fragile economy remains particularly burdened by growing public debt.

Although an expansion of the construction sector was noticeable in the first half of the year, major public construction investments are set to begin only in 2018, giving muchneeded confidence to cement manufacturers.

With demand continuing to trend negatively, cement producers have resorted to a more aggressive exporting strategy during the year.

An additional aggravating factor for cement production was the increase of energy costs for domestic cement industries.

CHART: Year-to-Date Cement Demand (%)

Sources: CW Research

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CW Research

Cement demand increased 8.8 percent year-todate in Indonesia until November. Growth was favored by public and private sector investments in residential construction projects, both low income affordable housing and tourism-related buildings. Government investments to develop the country's infrastructure also supported the growth in cement demand. The government plans on further improving the country’s transport infrastructure in order to boost its tourism sector, one of the largest revenue sources for Indonesia. Moreover, fiscal stimulus also encouraged the constructor sector and the infrastructure projects.

Egyptian cement demand decreased 2.2% year-to-date until September while cement production increased 0.1% for the same period, as the country faced a decline in the

CEMENT MARKETS

Pakistan’s cement demand experienced a yearto-date increase of 14.2 percent to November 2017. The steady growth of domestic demand, in spite of smaller export quantities, has persuaded major cement companies to add new production lines that will enable them to better capture the market. The government also expects to finish under construction or planned projects until next year, as part of the Public Sector Development Programme (PSDP) and China Pakistan Economic Corridor (CPEC) investments. The projects are expected to continue to absorb large amounts of cement. As peace and order in the country improved, the real estate sector is facing a major recovery compared to the previous years, allowing demand for cement to increase.

real estate activity, which slowed the demand for construction materials. The production of cement was higher than actual domestic demand, leading to a large excess of product.

The government is seeking foreign investments for large infrastructure projects. Funds from Egyptian partners are expected to be invested in 2018, targeting construction and industrial sectors, as well as the electricity sector, giving confidence to cement manufacturers for 2018.

Vietnam’s developing economy recorded the biggest increase in the last 10 years, driven mostly by increases in industrial output, reflecting arise of cement domestic demand and production by 12.1 percent year-to-date until November.

Cement prices decreased driven by a surplus of cement production. Exports recorded an even larger increase when compared to demand after the government announced its intentions to reduce export taxes and provide financial aid to the cement industry, and to absorb the surplus of cement production.

Turkish cement demand increased 2.6 percent year-to date to August 2017, due to the fast recovery of investments made by the government in the infrastructure and home building sectors.

Apart from the boost provided by domestic demand, exports of cement also contributed to rising production levels, especially because cement prices decreased, making Turkish cement very competitive, compared to other European countries. Political issues that have hindered more substantial growth at the beginning of the year now seem to be in the past.

Cement demand increased 8.8 percent year-todate in Indonesia until November.

Growth was favored by public and private sector investments in residential construction projects, both low income affordable housing and tourism-related buildings.

CHART: Year-to-Date Cement Production (%)

Sources: CW Research

To learn more, please contact the CW Research team at sales@cwgrp.com www.cemweek.com

August JANUARY/FEBRUARY / September 2016 2018

25

DEPARTMENTS

PEOPLE Summit Materials appoints new executive president, COO

Summit Materials has a new executive president of chief operating officer.

Karl H. Watson Jr. has been appointed as the new executive vice president and chief operating office of Summit Materials, having become effective on January 8. He replaces Douglas C. Rauh on the post. “I am excited to have the opportunity to work for such a dynamic and successful company,� Watson said on the occasion. Before assuming this new job, Watson was president of cement & southwest ready mix at Martin Marietta Materials and also held several positions at Rinker and, after the company was bought, at Cemex.

Watson is currently on the board of directors of the Texas Aggregates & Concrete Association and on the executive committee of the Portland Cement Association where he served as vice chairman from 2013 to 2015.

LafargeHolcim appoints new regional head in Europe LafargeHolcim will have a new head for its European operation. Marcel Cobuz will become the new head of the group in Europe, replacing Roland Kohler, who has decided to retire. The new leadership became effective on January 1.

Cobuz started his career at the Romanian National Bank, collaborating in the 26

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creation of the Bucharest Stock Exchange.

He entered Lafarge in 2000 and has since been executive director of the company in Indonesia, Iraq, and Morocco. He was also finance director for Lafarge Greece and Romania between 2003 and 2006, and played an important role in the LafargeHolcim merger.

PEOPLE CRH board member retires in December 2017 Ernst Bärschi has retired from CRH’s board of director, with effect from 20 December 2017 onwards.

"On behalf of the Board I would like to thank Ernst for his commitment and service to CRH over the last six years, and wish him every success in the future”, said Nicky Hartery, CRH chairperson, on the occasion.

FLSmidth appoints new director FLSmidth appoints new director for its machinery division.

World Cement Association appoints CNBM Chairman Zhiping Song as its new President Zhiping Song, Chairman of China National Building Materials (CNBM) has been appointed the new President of the World Cement Association. This is the first time a representative from a Chinese organization has taken the helm of an international cement association.

Zhiping Song has over 30 years of experience in business and management in China’s building material industry.

He has been Chairman of CNBM since October 2005, and previously he served other board-level roles at China United, BNBMG and China National Pharmaceutical Group Corporation.

At present Song consecutively acts as the Vice President of China Building Materials Industry Association, China Enterprise Confederation, China’s Listed Companies Association, China Logistics Alliance Network, China Capital Entrepreneurs’ Club and he is Chairman of the Board of China Federation of Industrial Economics.

Jan Kjærsgaard was picked as the new director for FLSmidth’s machinery division, responsible for the sale of several kinds of equipment to the company’s customers.

Kjærsgaard comes from the post of CEO at Bladt Industries, a supplier of steel structures, to replace Bjarne Moltke Hansen.

His nomination will become effect on March 1, 2018.

www.cemweek.com

August JANUARY/FEBRUARY / September 2016 2018

27

DEPARTMENTS

EQUIPMENT LOESCHE to supply Penna Cement with vertical roller mill LOESCHE has won an order from Penna Cement Industries Limited, India. The vertical roller mill is to be used at the cement plant in Boyareddypalli (in the state of Andhra Pradesh), around 200 km north of Bangalore.

There the vertical roller mill equipped with four rollers will grind petcoke with a throughput capacity of 52 t/h, 3% R on 90 μm. The delivery of the order to be managed by LOESCHE India is to take place at the beginning of next year.

In addition to the positive experience that Penna Cement had with a similar vertical roller mill, the easy maintenance of the grinding plant was a decisive factor in the award of the order.

Cemex UK buys new dredge ship Cemex UK is to buy dredger to extract sand and gravel from the seabed. The company will acquire a Damen Marine Aggregate Dredger from Damen Shipyards Group. The vessel will be constructed in the Galati shipyards, in Romania.

With this new equipment, Cemex UK will be capable of extracting sand and gravel from the sea at depths of 55 meters, even with the challenging conditions of the North Sea. This will be the first of its kind 28

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to be delivered by Damen. The order was signed by Laurence Dagley, director of Cemex UK Marine and Frank de Lange, regional sales director of Damen Shipyards Group, on December 19.

“We wanted a cutting edge design, something for the 21st century with all the safety, efficiency, environmental and on board comfort credentials this implies”, commented Dagley on the occasion, speaking of the new vessel.

EQUIPMENT Cleveland Cascades installs load system in Turkey Cleveland Cascades installs cement and clinker load system in Turkey.

The company is setting a CC880 Cascade chutes that will load around 700 to 1,100 tons of cement and clinker per hour. The equipment was fitted with an abrasion-resistant wear inside the chute that allows it to transport clinker more effectively.

“When loading Cement, the Skirt outlet is switched for a solid rubber tube outlet. This tube has a maker line on it halfway down its length to serve as a visual aid for operators”, Cleveland Cascades explained.

Also according to Cleveland Cascades, its load system includes an array of electrical components for safety and control that are capable of controlling lowering and raising of the chute and signaling potential blockages.

Aumund exports cement making equipment to Uzbekistan Aumund will install three new conveyors in a cement plant in Uzbekistan.

The company will install three drag chain conveyors, with capacities ranging from 7.5 tons per hour to 200 tons per hour, which will be delivering cement raw materials such as limestone, gypsum, and pozzolan to the Sherabad cement plant, in Uzbekistan.

In total, Aumund will dispatch 250 tons of machinery to its Uzbek client, Almalyk Mining and Processing. The order includes several chain bucket elevators, a pan conveyor, and 19 silo discharge gates.

The Sherabad cement plant is expected to produce 1.5 million tons per annum once it is commissioned, which should happen by 2019. This is part of Uzbekistan’s plan to reach a capacity of 8.9 million tons per annum by 2020.

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August JANUARY/FEBRUARY / September 2016 2018

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EQUIPMENT Star Cement finds improved efficiency on new steel parts Star Cement claims improvement in efficiency by switching from mild steel to SSAB steel. The cement maker, responsible for a cement plant in Ras-al-Khaimah (UAE), has switched from mild steel to Hardow Wear Plate steel grades from SSAB, resulting in a decrease of downtime by 42 percent.

Velayuthan, general manager at Star Cement, says that with mild steel the pieces had to be replaced every two to three months. Now, with the new steel grades, the company is able to operate 330 days with stoppages.

Coupled with other improvements, the switch has led to an increase in the capacity of the plant from 6,800 to 8,300 tons of cement per day.

KHD to install pioneering calciner technology at Rohrdorfer’s Austrian plant Cologne-based Humboldt Wedag GmbH has been awarded an EPC contract by Rohrdorfer Cement Group for the kiln line modernization at its cement plant operations in Gmunden, Austria. The kiln modification will enable the very flexible usage of a wide range of waste fractionally pre-treated derived fuels on a high substitution rate.

The modernization project comprises the design and supply of KHD’s world´s first ever PYROROTOR Calciner Technology as well as the replacement of the existing 30

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satellite cooler with a new generation PYROFLOOR PFC2 clinker cooler. The existing three station rotary kiln will be fitted with a new kiln drive and a new kiln hood as well as kiln inlet and outlet.

With the installation of the new PYROROTOR Calciner Technology from KHD the Gmunden plant will be able to burn very coarse waste derived fuels including whole rubber tires, which will lead to drastically reduced requirements in regard to waste pre-treatment. Therefore, the kiln modification will also emphasize on pollutant emission reduction.

Commissioning of the new system is scheduled for April 2019.

EQUIPMENT LafargeHolcim orders new equipment from Aumund LafargeHolcim has ordered equipment from Aumund.

new

The new equipment, produced by Aumund France and AumundFördertechnik, represents an investment of EUR 100 million and will be installed in the Martres-Tolosane cement plant, in southwestern France.

The order is part of LafargeHolcim’s effort to modernize the plant in a project that will be finished in mid2020. Aumund won the order following an open bidding process with several other competitors.

In total, LafargeHolcim will spend EUR 300 million on the modernization project, with strong focus on environmental protection.

This includes a switch to alternative fuels, which will reduce carbon emissions.

LOESCHE commissions LM 35.2+2 CS mill at Sri Balaha Chemicals Grinding of cement clinker in vertical roller mills is a technology introduced

by LOESCHE, which was first used in 1935. Almost 30 years ago, the company introduced the first vertical roller mill to grind both, cement clinker and granulated blast furnace slag, in one process. The concept of M- and S-rollers was established in 1992, which is one of the most cost-effective and successful LOESCHE innovations.

LOESCHE has the patented concept which enables the production of cement with higher Blaine and effective grinding of blast furnace slag. LOESCHE has supplied more than 365 mills worldwide for producing various types of cement

such as OPC, PPC, composite cement, as per international standards.

The LOESCHE cement mill LM 35.2 +2 S is successfully operating at Sri Balaha Chemicals, Hindupur, producing Granulated Ground Blast Furnace Slag (GGBFS) of 4,000 cm²/gm at 50 t/h.

It was supplied in 2016 and installed and commissioned by March, 2017.

The mill achieved the rated capacity within 2 weeks of commissioning and achieved exceptional operational parameters with a throughput increase of the mill and a reduction in the specific power consumption.

With the stability in operation and high grinding efficiency, LOESCHE has commissioned over 2,200 mills worldwide.

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August JANUARY/FEBRUARY / September 2016 2018

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Flashback NEWS FLOW IN CEMWEEK.COM LAST TWO MONTHS

Russia

22 articles

China

Pakistan

United States

44 articles

27 articles

24 articles

Egypt

Nepal

18 articles

40 articles

Bangladesh 13 articles

Indonesia 21 articles

Brazil

11 articles

Higher news volume Lower news volume

cw Research agenda / reports The CW Group will be hosting and participating in a number of webinars and conferences. We invite you to join us on-line or in person at the events to discuss our views of the industry. To learn more, please visit https://www.cwgrp.com/research/webinars-and-meetings

CW Research meeting agenda include: March 8, 2018

Global Cement Volumes Forecast Report: 1H2018 update and outlook

April 26, 2018

Global Cement Ex-Works and Trade Prices – 1Q 2018

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Cw research newest reportS:

Webinars

Webinars

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Nepal Cement Market Report

Global Cement Volume Forecast ReporT

Global Cement Trade Price Report

February 2018

March 2018

April 2018

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TOP BMWEEK STORIES activity 1. India’s National Green Tribunal asks states for IRAN fly ash action plan 2.

Sika and Saint Gobain takeover battle could end soon 3. Lafarge Canada sets new alternative fuel pilot project 4. Wienerberger expands its range with a clay paver 5. India's JSW Cement to benefit from JSW Steel deal 6. US builders anticipate a challenging 2018 7. Russia developing new concrete facility 8. US’s infrastructure spending to rise 9. Construction industry growth slows in December 10. Construction demand to rise in Singapore in 2018

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India: ACC Cement says petcoke ban won’t derail its operations 2. Indian refiners expecting challenging 2018 3. Power producers study new Coal India price table 4. India: Petcoke import banned in Delhi and National Capital Region 5. National Cement focus on cost cutting, efficiency 6. Lipetskcement with higher output in 2017 7. Thermal coal prices reach new high in China 8. China’s aluminum output expands in December 9. Lafarge Cement Hungary with higher output in 2017 10. UltraTech reports lower net profit, 3QFY2017

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Cement plant equipment market to reach USD 9.0bn by 2022 2. French start-up launches new cement grinding unit in May 3. St Marys cement plant is shutting down 4. UltraTech Cement to set up plant in Madhya Pradesh 5. Cement plant in Antioquia, Colombia affected by fire 6. Italcementi acquires Cementir Italia 7. Cementos Molins buys Holcim Cement Bangladesh 8. New white cement project in Novgorod, Russia 9. JSW Cement makes highest bid for Binani 10. PPC focuses on expansion after failed take over

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GLOBAL CEMENT TRADE PRICE REPORT The Global Cement Trade Price Report (GCTPR) provides a must-have, data-centric assessment of monthly and quarterly prices (USD per ton) for cementitious products - gray cement, white cement, clinker & granulated slag (GBFS): Ex-works and retail prices Trade pricing Together with insights on cement producers' pricing strategies and important price revisions, the GCTPR provides insights and data on domestic cement pricing for over 30 key markets, as well as international trade prices for 70+ cement markets.

Analysis and forecast of global cement trade.

LET US GUIDE YOU.

The report not only provides historical monthly and quarterly price information, but also offers a three-month forecast for each country.

The unique report is built on CW Research’s long and proven expertise in the cement industry. The GCPR is intended as a tool for understanding the national, regional and international cement pricing environment and the competitive price scenario in key markets around the world.

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