Century Announces Resumption of Normal Shipping Operations at Jamalco Refinery
Century Aluminum (CENX) has announced the resumption of normal shipping operations at Jamalco's Rocky Point port following Hurricane Beryl-related repairs. CEO Jesse Gary praised the Jamalco team for their safe and focused execution of the repairs. In Iceland, local geothermal energy companies have issued partial power curtailment orders for maintenance activities, affecting Century's Grundartangi smelter. These curtailments are expected to reduce Grundartangi's production by approximately 2,500 MT in the third quarter.
Century Aluminum (CENX) ha annunciato la ripresa delle normali operazioni di spedizione al porto di Rocky Point di Jamalco, dopo i lavori di riparazione legati all'uragano Beryl. Il CEO Jesse Gary ha elogiato il team di Jamalco per la loro esecuzione sicura e mirata delle riparazioni. In Islanda, le aziende locali di energia geotermica hanno emesso ordini di riduzione parziale della potenza per attività di manutenzione, che influiscono sulla fonderia di Century a Grundartangi. Si prevede che queste riduzioni compromettano la produzione di Grundartangi di circa 2.500 MT nel terzo trimestre.
Century Aluminum (CENX) ha anunciado la reanudación de las operaciones normales de envío en el puerto de Rocky Point de Jamalco, tras las reparaciones relacionadas con el huracán Beryl. El CEO Jesse Gary elogió al equipo de Jamalco por su ejecución segura y enfocada de las reparaciones. En Islandia, las compañías locales de energía geotérmica han emitido órdenes de reducción parcial de energía para actividades de mantenimiento que afectan la fundición de Century en Grundartangi. Se espera que estas reducciones reduzcan la producción de Grundartangi en aproximadamente 2,500 MT en el tercer trimestre.
Century Aluminum (CENX)는 허리케인 베릴 관련 수리 작업 후 Jamalco의 Rocky Point 항구에서 정상 배송 운영을 재개한다고 발표했습니다. CEO Jesse Gary는 Jamalco 팀의 안전하고 집중된 수리 작업을 칭찬했습니다. 아이슬란드에서는 지역 지열 에너지 회사가 유지보수 작업을 위한 부분 전력 제한 명령을 내렸으며, 이는 Century의 Grundartangi 제련소에 영향을 미치고 있습니다. 이러한 제한으로 인해 Grundartangi의 생산이 3분기에 약 2,500 MT 감소할 것으로 예상됩니다.
Century Aluminum (CENX) a annoncé la reprise des opérations d'expédition normales au port de Rocky Point de Jamalco après les réparations liées à l'ouragan Beryl. Le PDG Jesse Gary a salué l'équipe de Jamalco pour la réalisation sécurisée et ciblée des réparations. En Islande, les entreprises locales d'énergie géothermique ont émis des ordres de réduction partielle de l'énergie pour les travaux de maintenance, affectant la fonderie de Century à Grundartangi. Ces réductions devraient réduire la production de Grundartangi d'environ 2 500 MT au troisième trimestre.
Century Aluminum (CENX) hat die Wiederaufnahme des normalen Versandbetriebs im Hafen von Rocky Point in Jamalco nach Reparaturen im Zusammenhang mit dem Hurrikan Beryl angekündigt. CEO Jesse Gary lobte das Jamalco-Team für die sichere und fokusierte Durchführung der Reparaturen. In Island haben lokale geothermische Energieunternehmen teilweise Stromdrosselungen für Wartungsarbeiten angeordnet, die die Aluminiumhütte von Century in Grundartangi betreffen. Es wird erwartet, dass diese Drosselungen die Produktion von Grundartangi im dritten Quartal um etwa 2.500 MT reduzieren.
- Resumption of normal shipping operations at Jamalco's Rocky Point port
- Successful completion of Hurricane Beryl-related repairs
- Partial power curtailment at Grundartangi smelter in Iceland
- Expected production reduction of 2,500 MT in Q3 at Grundartangi
Insights
The resumption of normal shipping operations at Jamalco's Rocky Point port is a positive development for Century Aluminum. This suggests a recovery from hurricane-related disruptions, potentially improving the company's supply chain efficiency and reducing logistical bottlenecks. However, the impact is likely as it represents a return to normal rather than an improvement over pre-hurricane conditions.
On the other hand, the power curtailment at the Grundartangi smelter in Iceland is a negative factor. A reduction of
The news presents a mixed outlook for Century Aluminum's near-term production and market position. The resumption of normal shipping at Jamalco should improve the company's ability to meet customer demand and potentially capitalize on current aluminum market conditions. However, the production cut at Grundartangi could partially offset these gains.
Given the current tight supply in the global aluminum market, even a relatively small production cut of
CHICAGO, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Century Aluminum announced today the resumption of normal shipping operations at Jamalco’s Rocky Point port following the completion of Hurricane Beryl-related repairs to the port.
“I want to thank our entire Jamalco team who rose to the occasion following Hurricane Beryl and successfully completed these repairs safely and with a disciplined focus on execution,” said Century’s President and CEO Jesse Gary.
In Iceland, local geothermal energy companies issued partial power curtailment orders across their industrial customers, including the Company’s Grundartangi smelter, for required maintenance activities. These curtailments are expected to reduce Grundartangi’s production by approximately 2,500 MT in the third quarter.
About Century Aluminum Company
Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States and also operates production facilities in Iceland, the Netherlands and Jamaica.
Visit www.centuryaluminum.com for more information.
Cautionary Statement
This press release and statements made by Century Aluminum Company and its management contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may."
Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact
Ryan Crawford
312-696-3132
Source: Century Aluminum Company
FAQ
What impact did Hurricane Beryl have on Century Aluminum's (CENX) operations?
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Why are geothermal energy companies in Iceland issuing power curtailment orders affecting Century Aluminum (CENX)?
