Caribbean Cement lifts supply after April rain disruption

Caribbean Cement Company says it has raised cement availability by more than 20% in recent weeks after heavy April rainfall disrupted operations. The company reported that output has moved beyond 475,000 metric tons, which it said is 50% higher than the prior year.

The company said it is working to keep supply consistent while strengthening reliability to answer strong demand in the market. It also received 23,852 metric tons of cement in May through the Cemex trading network as part of efforts to reinforce supply.

Tourism Minister Edmund Bartlett, meanwhile, said other carriers have shown interest in taking up capacity left by Spirit Airlines. Spirit ended operations last month, citing higher jet fuel costs linked to the war in Iran, and failed to secure a US$500-million emergency government bailout. Bartlett said he would travel to New York next week for talks with airline partners. He said Jamaica had faced the loss of about 40,000 seats, but those seats had been taken up.

Bartlett also said 20,000 hotel rooms are expected to be added to Jamaica’s room stock, with the potential to support another three to four million visitors annually. He was speaking at a ceremony in Getty’s Stone, St. Mary, marking the reopening of the Fontabelle to Getty’s Main Road, which serves several attractions and is important to the community’s livelihood.

Fuel prices will move effective tomorrow. Petrojam-related adjustments include 25-cent reductions per litre for 87 and 90 gasoline, automotive diesel, ultra-low sulphur diesel and kerosene. Propane will rise by 25 cents, while butane will fall by 99 cents. Retail stations will apply their own markups to ex-refinery prices.

GraceKennedy Services also announced a June waiver of wire-transfer fees through its FX Trader Cambio for small and medium-sized enterprises and commercial clients. The waiver covers transactions of US$10,000 or more and may save businesses up to US$60 per transfer, according to CEO Margaret Campbell.

On the market, the JSE index fell 50 points and the Junior Market index declined 27 points. Foreign exchange trading ended with the US dollar averaging J$159.11, the Canadian dollar J$160.18, the pound J$213.72 and the euro J$185.25.