Moderator: 3ne2nr Mods
Joshie23 wrote:Redman wrote:They remaining quiet until some judgement-meanwhile Sagicor and the broker getting away with murder with that health plan they trying to shovel down retirees throat
Something we can both agree on. Reading through those terms..Espinet and the crew are really something else yes. I know he said there's no emotion in business but wow. These guys are different.
Pointman-IA wrote:Word on the ground is that the company cannot pay severance this month end.
Stolen Petrotrin steel in scrap yards
Joel Julien
Since the announcement of the closure of State-owned oil company Petrotrin, people have been stealing tonnes material from the company's installations and presenting them for sale at scrap yards throughout the country, president of the Trinidad and Tobago Scrap Iron Dealers Allan Ferguson has said.
This theft of material from Petrotrin is a "major problem" currently affecting the scrap iron industry, Ferguson said and as such the association is now calling for a meeting with Police Commissioner Gary Griffith so they can properly deal with the issue.
"Right now there is a major problem which is Petrotrin. A lot of the material from Petrotrin is being stolen and the association is trying to get a meeting with Gary Griffith to give him that concern because we as the association will get the bad name and this industry could be in serious problems if they don't put a stop to it," Ferguson said.
Chairman of the Scrap Iron Dealers Association Allan Ferguson
"And the majority of the people buying that material is people who come from outside of Trinidad and Tobago and have scrap yards here and they are buying the material and if anything happens they can move out and go and we as locals here will be in serious problems if the industry crashes," he said.
"We want to have a meeting with Gary Griffith with reference to a lot of things going in the industry so we can draw some light on where the stealing is taking place," Ferguson said.
This problem of material being stolen from Petrotrin and being bought by scrap yards with foreign owners highlights two of the major concerns now facing the industry, Ferguson said.
"We are trying to save our industry because the last time because of a bridge they tried to close down our industry," Ferguson said.
In 2012 thieves stole large chunks of the 68-foot metal bridge across the Cap-de-Ville River, Cedros for sale as scrap metal.
The thieves used a blowtorch to cut away huge beams from the base of the bridge, as well as large chunks of the railings.
This prompted then Minister of Works and Transport Jack Warner to question whether the scrap iron industry should be outlawed.
Ferguson is fearful that if the Petrotrin issue is not properly addressed the authorities may again use the industry as the scapegoat.
"The last government wanted to close down the industry and we had to fight and we don't want to have to be put in that position again so we want to try and solve a problem that has started to occur," he said.
"We know this situation will cause a lot of problems, we drew it to some people's attention already but nothing is taking place, a lot of stealing is taking place with Petrotrin material," Ferguson said.
Scrap iron yard off St Helena Bypass Road, Kelly Village.
The theft of material from Petrotrin, however, is not an anomaly though as other local utilities have over the years complained of their infrastructure being stolen as part of the scrap metal trade.
Telecommunication cables, water pumps, manhole covers, and conveyor systems have all been reported stolen due to the increase in the level of economic activity with scrap metals.
Local utility companies such as the Trinidad and Tobago Electricity Commission (T&TEC), the Telecommunication Services of Trinidad and Tobago (TSTT), the Water and Sewerage Authority (WASA) have all been adversely affected in this regard.
Apart from this situation, Ferguson said a lack of proper regulation in the industry has also allowed foreigners to be able to set up shop here with relative ease and benefit financially.
"These people who come from foreign and open up yards, we had brought them here to buy scrap iron from us and they are now opening up yards," Ferguson said.
"And they are causing a lot of problems in the industry and that is why we are asking the Government to please assist us to try to deal with this because you see if we don't put a halt to it this industry will crash," he said.
Michael Reyes shows a section of the scrap yard off St Helena Bypass Road, Kelly Village.
Phenomenal rise in
scrap iron business
In 2013 the Ministry of Trade, Industry, and Investment prepared a Scrap Metal Policy for this country.
"Over the last decade, the Scrap Metal Industry has provided viable business opportunities for a number of small and micro enterprises in Trinidad and Tobago. The industry contributes to the attainment of some of the country’s socio-economic objectives as envisioned in the policy of the Government which includes employment creation and trade promotion. Despite these benefits, there are many issues that have been raised by stakeholders relating to procurement, pricing, and the marketing and distribution of scrap metal that continue to stymie the development of this industry in Trinidad and Tobago. The development of this Scrap Metal Policy is, therefore, an attempt to introduce new regulatory measures to govern the industry. Specifically, the policy seeks to provide the framework that will ensure compliance with health and environmental requirements, registration and other issues to ensure sustainable development of this Industry," it stated.
The policy came about as result of consultations held with the Scrap Iron Dealers Association but since then nothing has been done, Ferguson said.
Among the concerns the association raised then was the fact that the industry has evolved well beyond the Old Metal and Marine Stores Act of 1904 which regulates it.
"The global Scrap Metal Industry has been growing at a rapid rate over the past decade. Since 2001 the industry processed more than 1,451 million tonnes of recyclable material per annum into raw material feedstock around the world, contributing over US$65 billion to global GDP in the process. The growth of this industry globally has also been reflected domestically. According to figures provided by Trinidad and Tobago’s Central Statistical Office (CSO), scrap metal exports escalated from TT$69 million in 2009 to TT$96 million 2010, registering an increase of 39 per cent over a 12 month period," statistics have shown.
Over the last few weeks they have stolen all the covers from the explosion proof starters in tank batteries and copper from a number 100 to 500 kva 3 phase transformers.hydroep wrote:As expected...
Stolen Petrotrin steel in scrap yards
Joel Julien
Since the announcement of the closure of State-owned oil company Petrotrin, people have been stealing tonnes material from the company's installations and presenting them for sale at scrap yards throughout the country, president of the Trinidad and Tobago Scrap Iron Dealers Allan Ferguson has said.
This theft of material from Petrotrin is a "major problem" currently affecting the scrap iron industry, Ferguson said and as such the association is now calling for a meeting with Police Commissioner Gary Griffith so they can properly deal with the issue.
"Right now there is a major problem which is Petrotrin. A lot of the material from Petrotrin is being stolen and the association is trying to get a meeting with Gary Griffith to give him that concern because we as the association will get the bad name and this industry could be in serious problems if they don't put a stop to it," Ferguson said.
Chairman of the Scrap Iron Dealers Association Allan Ferguson
"And the majority of the people buying that material is people who come from outside of Trinidad and Tobago and have scrap yards here and they are buying the material and if anything happens they can move out and go and we as locals here will be in serious problems if the industry crashes," he said.
"We want to have a meeting with Gary Griffith with reference to a lot of things going in the industry so we can draw some light on where the stealing is taking place," Ferguson said.
This problem of material being stolen from Petrotrin and being bought by scrap yards with foreign owners highlights two of the major concerns now facing the industry, Ferguson said.
"We are trying to save our industry because the last time because of a bridge they tried to close down our industry," Ferguson said.
In 2012 thieves stole large chunks of the 68-foot metal bridge across the Cap-de-Ville River, Cedros for sale as scrap metal.
The thieves used a blowtorch to cut away huge beams from the base of the bridge, as well as large chunks of the railings.
This prompted then Minister of Works and Transport Jack Warner to question whether the scrap iron industry should be outlawed.
Ferguson is fearful that if the Petrotrin issue is not properly addressed the authorities may again use the industry as the scapegoat.
"The last government wanted to close down the industry and we had to fight and we don't want to have to be put in that position again so we want to try and solve a problem that has started to occur," he said.
"We know this situation will cause a lot of problems, we drew it to some people's attention already but nothing is taking place, a lot of stealing is taking place with Petrotrin material," Ferguson said.
Scrap iron yard off St Helena Bypass Road, Kelly Village.
The theft of material from Petrotrin, however, is not an anomaly though as other local utilities have over the years complained of their infrastructure being stolen as part of the scrap metal trade.
Telecommunication cables, water pumps, manhole covers, and conveyor systems have all been reported stolen due to the increase in the level of economic activity with scrap metals.
Local utility companies such as the Trinidad and Tobago Electricity Commission (T&TEC), the Telecommunication Services of Trinidad and Tobago (TSTT), the Water and Sewerage Authority (WASA) have all been adversely affected in this regard.
Apart from this situation, Ferguson said a lack of proper regulation in the industry has also allowed foreigners to be able to set up shop here with relative ease and benefit financially.
"These people who come from foreign and open up yards, we had brought them here to buy scrap iron from us and they are now opening up yards," Ferguson said.
"And they are causing a lot of problems in the industry and that is why we are asking the Government to please assist us to try to deal with this because you see if we don't put a halt to it this industry will crash," he said.
Michael Reyes shows a section of the scrap yard off St Helena Bypass Road, Kelly Village.
Phenomenal rise in
scrap iron business
In 2013 the Ministry of Trade, Industry, and Investment prepared a Scrap Metal Policy for this country.
"Over the last decade, the Scrap Metal Industry has provided viable business opportunities for a number of small and micro enterprises in Trinidad and Tobago. The industry contributes to the attainment of some of the country’s socio-economic objectives as envisioned in the policy of the Government which includes employment creation and trade promotion. Despite these benefits, there are many issues that have been raised by stakeholders relating to procurement, pricing, and the marketing and distribution of scrap metal that continue to stymie the development of this industry in Trinidad and Tobago. The development of this Scrap Metal Policy is, therefore, an attempt to introduce new regulatory measures to govern the industry. Specifically, the policy seeks to provide the framework that will ensure compliance with health and environmental requirements, registration and other issues to ensure sustainable development of this Industry," it stated.
The policy came about as result of consultations held with the Scrap Iron Dealers Association but since then nothing has been done, Ferguson said.
Among the concerns the association raised then was the fact that the industry has evolved well beyond the Old Metal and Marine Stores Act of 1904 which regulates it.
"The global Scrap Metal Industry has been growing at a rapid rate over the past decade. Since 2001 the industry processed more than 1,451 million tonnes of recyclable material per annum into raw material feedstock around the world, contributing over US$65 billion to global GDP in the process. The growth of this industry globally has also been reflected domestically. According to figures provided by Trinidad and Tobago’s Central Statistical Office (CSO), scrap metal exports escalated from TT$69 million in 2009 to TT$96 million 2010, registering an increase of 39 per cent over a 12 month period," statistics have shown.
http://www.guardian.co.tt/news/stolen-petrotrin-steel-in-scrap-yards-6.2.722390.f57ddcb733
kstt wrote:What did the union say at their meeting at Beaumomt Hill today?
kstt wrote:UTT grads with ZERO experience GT bai
Guess Heritage want young bloodkstt wrote:UTT grads with ZERO experience GT bai
car wrote:kstt wrote:What did the union say at their meeting at Beaumomt Hill today?
Petrotrin at the level of the Chairman has given an undertaking to honour all benefits under the Pension Plan. The Union has requested a written guarantee.
The Union has advised not to sign the Sagicor Medical because it is severely lacking, no dental, no optical, limited to 2 years. The Union has proposed another carrier with significantly better benefits including dental and optical and more than a much longer period.
hydroep wrote:^Mussbe so they could pay them less...
Joshie23 wrote:http://www.cnc3.co.tt/morning-brew/browne-petrotrin-will-cost-more-clico
Interesting views from MB. (I need to learn to embed).
The_Honourable wrote:Joshie23 wrote:http://www.cnc3.co.tt/morning-brew/browne-petrotrin-will-cost-more-clico
Interesting views from MB. (I need to learn to embed).
I got you bro. Thanks for this.
T&T can lose Caricom market for fuel
Sampson Nanton
T&T faces the possibility of losing Caricom markets for the export of fuel as the price of fuel coming out of T&T is likely to increase.
Minister of Energy Franklin Khan told the Senate yesterday that Caricom countries now have the option of sourcing their products on the open market. He said Petrotrin still has the ability to supply small cargoes, including aviation fuel, to small Caricom countries, which gives it a strategic advantage. However, with a change in the business model, with Petrotrin having to import products from outside of the Caricom region, there is a possibility of increases in prices.
"The Caricom market is unique in that it calls for small package sizes, so not all international traders can facilitate that market. That was the strategic advantage of Petrotrin. However, there are other players in the market.
"We have gone into a free market situation. We are importing fuel for redistribution to Caricom (and) they have the option to continue with Paria or Petrotrin as the case may be, and there is no CET (Common External Tariff) now on fuel, so they can go to the international market and source their fuel at the most competitive prices in their opinion," Khan said.
The CET does not apply anymore as T&T is no longer in the refinery business.
Barbados has already announced that it has found a new supplier for petroleum products. It has also been receiving spot shipments of gas from the United States.
The minister said no one company will be given exclusive rights to supply products to T&T.
However, he noted that international traders, refiners, and marketers will be invited to participate in the supply of refined products, with the company with the most competitive being awarded supply contracts. Those products will include jet fuel, gas, oil and unleaded gasoline.
Khan said earlier this year, BP's Latin America Integrated Sales and Trading Group, won the contract to supply refined products following a competitive bidding process. He said the company's offer was superior on price and commercial terms on the composite cargos
The minister said that on October 27 Petrotrin received its first shipment of refined fuel, one of 16 cargoes that will be delivered in the next four months under the agreement.
He said the schedule of imported products has been designed to assure that a 20-day supply of all product grades is assured in the local market.
Khan added that supplies from January 1, 2019, will be sourced under the new entity, Paria Trading Company Limited.
sMASH wrote:Hmmm. So, we couldn't afford to produce feuls.. Yet was able to have regional buyers...
Yes, buying and paying for shipping, wayyyy cheaper than taking it from the ground and making it urself...
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