TMK announces Q3 and 9M 2013 operational results
TMK, a leading global manufacturer and supplier of steel pipes for the oil and gas industry, announces its operational results for 9 months of 2013.
Q3 2013 and 9M 2013 highlights
1. TMK shipped a total of 3,200,000 tonnes of steel pipe to customers in the first nine months of 2013, up 1.7% YoY, on the back of stronger demand for welded OCTG pipe and large diameter pipe. Shipments fell by 2.1% QoQ.
2. Seamless pipe shipments fell by 2.8% YoY to 1,807,000 tonnes in the first nine months of 2013. Shipments fell by 9.0% QoQ to 563,000 tonnes due to scheduled repair of rolling mills at Seversky Tube Works and Volzhsky Pipe Plant.
3. Welded pipe shipments rose by 8.3% YoY up to 1,393,000 tonnes in the first nine months of 2013, mainly driven by increasing demand for LDP and line pipe from Russian customers as well as welded OCTG in the USA. Compared to the Q2 of 2013, the Q3 welded pipe shipments were up by 7.1%.
4. Total OCTG shipments, TMK’s core product, increased by 4.2% YoY, but were down 4.1% QoQ.
5. Shipments of premium connections totaled 573,000 joints in the first nine months of 2013, up 22.7% YoY. Shipments were down 1.9% QoQ.
3Q 2013 and 9M 2013 summary results
Product Q3'13 Q2'12 Change 9M'13 9M'12 Change
Seamless Pipe 563 619 -9.00 1,807 1,860 -2.80
Welded Pipe 497 464 7.10 1,393 1,286 8.30
Total 1,060 1,083 -2.1% 3,200 3,146 1.70
(0’000 tonne)
Source - Strategic Research Institute