TMK’s shipments rise 3%

August 28, 2013. Pipe Metallurgical Company sold 2,175,000 tons of steel pipes, which is 3% more than in a year earlier. At the same time, the shipments came to 1,117,000 tons in the second quarter of the year, which was 6% more than in the four months of 2012. The company’s press service reports the increase in the shipment volume has to do with bigger supplies of line pipes and LDPs.

The weldless pipes shipment volume remained nearly the same as in the first half of 2012 and amounted to 1,271,000 tons. The volume of OCTG sales was 1% lower than a year earlier. The welded pipes shipments rose by 8% on the first half of 2012 and came to 905,000 tons. The volume of OCTG and line pipe shipments rose by 3% and 9%, respectively, the volume of LDPs shipments rose by 35%.

As of June 30, 2013, TMK’s accumulated debt dropped down to $3,769m against 3.849m on March 31, 2013. This was mainly because the ruble/dollar exchange rate weakened a bit on the ruble side. The net payoff came to $36m per quarter. On average, the interest rate on debt administration declined from 7.02% on March 31, 2013 to 6.67% on June 30, 2013.

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