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Latest Cedar Dumpster Manufacturing News
May 4, 2020
Taylor Machine Works releases new recycling series wheel loader The loader is designed specifically to withstand demanding conditions in the recycling industry. Taylor Machine Works Inc. , Louisville, Mississippi, has announced the release of the T-1025 Recycler wheel loader. It was created to meet the needs of customers. “We listened to the needs of those working in the recycling industry and made the decision to round out our fleet with the Taylor Recycler Wheel Loader series to provide our customers one source for their heavy lifting equipment needs,” President and CEO Robert Taylor says. The new model will provide more safety for operators and improved durability while remaining reliable, the company says. Completely designed with recyclers' needs in mind, it has a long list of features, many of which are standard. Some of those features include heavy-duty rear bumper, hydraulic cylinder protective sleeves, steel fenders, hinged belly pan and a high lift Z-Bar linkage. Several optional attachments, like buckets, forks and grapples, solid tire configurations, a payload weighing system, an advanced machine telematics system, heated air suspension seat and external mirrors and a cab air precleaner system, also are available. The T-1025 wheel loader also offers a panoramic view from the cab, allowing for a better line of sight. The loader features a max hinge pin height of 182 inches and a max dump reach of almost 4 feet, helping make loading and cleanup even easier, according to the company. American Made Dumpsters, Jacksonville, Florida, recently announced the company has made an investment in Cedar Dumpster Manufacturing (CDM) . Cedar Dumpster Manufacturing, also based in Jacksonville, provides dumpsters, compactors and roll-off trailers across the United States and Canada. The strategic investment by American Made Dumpsters is intended to help Cedar Dumpster Manufacturing invest in technology, patents and new facilities to grow its footprint with vendors and expand its offerings to both existing and new customers. Through the investment, American Made Dumpsters will also look to increase its footprint in many of the largest regions of the United States, Mexico, Bahamas, Jamaica, Brazil and Canada. American Made Dumpsters will also look to add more national, regional and local accounts into its network and increase the product and service offerings currently available. “I am impressed by how Cedar Dumpster Manufacturing has consistently shown itself to be a leader in building high-quality waste equipment,” American Made Dumpsters CEO John Arwood says. “I am extremely excited to have the opportunity to join its founder, Toney Sleiman, and work together with him to continue to build upon Cedar Dumpster Manufacturing’s reputation for customer service and high-quality products.” The month of April saw a noticeable increase in the use of the CME Group’s U.S. Midwest Busheling Ferrous Scrap contract, according to information posted daily by CME. By the close of business April 29, some 1,050 block trades had been made attached to the contract for the June through September 2020 timeframe. Fastmarkets AMM says the scrap futures trade at the end of that day had “surged to 1,272 lots (25,440 gross tons)” of hedged material. “In my opinion, the industry is increasingly embracing hedging,” states Mike Frawley, CEO of New Jersey-based World Steel Exchange Marketing. “The seismic change that has taken place in our world during this incredibly short time span is hard to come to grips with,” he adds. Veteran ferrous scrap trader and current industry consultant Nathan Fruchter of Lawrence, New York-based Idoru Trading has been a proponent of hedging in the ferrous market, and he says there is still plenty of room for the practice to grow. For most of the past two years, Fruchter says, the contracts have been “mostly traded by the market makers and financial institutions. Very few recyclers really use them to hedge their ferrous stocks. It’s the same scenario with the electric arc furnace (EAF) steel mills.” Like Frawley, Fruchter sees COVID-19-related fluctuations in price, supply and demand as driving potential change. “One would think that with the sudden and against all odds price hike we have seen in the last three weeks, that people would learn a lesson in the purpose of these futures contracts,” he remarks. Frawley, whose company is helping promote the CME-traded contracts, sees reasons for the change being permanent. “Market disruptions impacting prices can be mitigated by hedging,” he states. “For me, a fundamental for sustained success [in the scrap and steel sectors] is having in place staff dedicated to hedging with disciplined business practices.” Scrap companies have the in-house knowledge to use hedging properly, Frawley adds. “Since almost all of the top 20 steel scrap processors are also nonferrous scrap processors, they all know how to hedge, and most hedge a portion of their nonferrous intake,” he remarks. “Physical dealers in copper and aluminum frequently hedge by laying off their price risk on either the CME or the London Metal Exchange (LME),” he adds. Frawley continues, “Many of the EAFs, and for that matter service centers, have risk management departments, and they too understand and frequently utilize futures and OTC [over the counter] markets to hedge.” Fruchter expresses more skepticism and sees some potential barriers. “Unlike the nonferrous futures contracts, where you can actually take physical delivery of these goods from accredited warehouses, this option does not exist for the ferrous scrap future contracts,” he comments. The veteran trader says he is in favor of the notion of hedging ferrous material. “Any tonnage hedged means taking some element of the risk out of that tonnage,” he states. Fruchter says he remains concerned, though, that “the liquidity is not there because not enough contracts are being traded,” adding, “I also would venture to say that the small sized 10-tons lots of these [contracts] makes this a difficult task.” Despite any upgrades needed to how the contracts are formatted, risk mitigation could boost their use, says Frawley. “Throughout any given year there will be challenges to the business, from storms, logistical bottlenecks, flooding, equipment failures, low prices drying up intake and now the pandemic. Futures markets provide quick liquidity with ready buyers and sellers. Ferrous futures hedging and open interest is steadily growing. Futures, combined with block trades and look-a-like OTC ferrous markets, are sufficiently liquid for those who are seeking to hedge large volumes,” he states. Adds Frawley, “Ferrous scrap sellers should be comfortable hedging 25 percent to 50 percent of their inventory, assuming they are carrying one. The ferrous industry is in business to process and make steel, not speculate by not hedging risk.” Without warehoused inventory in the mix, Fruchter remains skeptical about ferrous hedging’s ceiling. “I don’t really see a direct connection between short supply of scrap and filling orders or hedged lots,” he remarks. “For every futures contract one wants to buy, there needs to be a seller of the same tonnage somewhere. For now, it remains a tool for speculators who follow the ferrous scrap and rebar markets and buy and sell these contracts hoping to make money on these transactions. It bears no resemblance to their physical transactions. And the traders who do hedge their physical transactions with a futures contract are very few and far between.” Frawley does not refer to such limitations, saying, “In my opinion, the industry is increasingly embracing hedging. I have no doubt there will be a significant uptick in hedging volumes over the next few years. Companies cannot continue to take these hits and survive. Careers and jobs (to say the least) are at stake. There is no reason to operate a business with your fingers crossed and wide-open exposure.” Global engineering firm Black & Veatch has been assigned to review the technology, market, environmental and regulatory aspects of a proposed green waste-to-biochar plant being considered by the Environmental Protection Department (EPD) of the government of the Hong Kong Special Administrative Region. A consultancy service agreement to assess environmental engineering techniques for a proposed “woody waste recycling plant” involves Black & Veatch in Hong Kong’s effort to increase the recycling rate of yard waste and wood waste. According to a news release issued by the Singapore office of Black & Veatch, it will be “the owner’s engineer of Hong Kong’s first pilot plant for woody waste recycling.” The pilot plant will have a capacity of 24 metric tons per day, says Black & Veatch. “Black & Veatch is ready to support Hong Kong’s sustainability visions,” comments says Andy Kwok, managing director of Black & Veatch Asia North. “We have worked with a large number of utilities and government agencies on waste-to-energy projects throughout the world, and many of them involve the conversion of biomass by means of pyrolysis or gasification to energy products.” Says James Chan, a project director at Black & Veatch Hong Kong, “The unique aspect of this pilot project is its focus on the production of biochar-type products, which are expected to find sustainable outlets in the Hong Kong market.” Black & Veatch describes biochar as similar to charcoal, and as being made by burning biomass in a pyrolysis process. Biochar improves soil fertility and captures and stores carbon dioxide safely, says the firm. The Hong Kong pilot plant project also will explore if biochar can be produced to meet higher quality standards for other beneficial uses, according to Black & Veatch. For Hong Kong’s woody waste recycling plant, potential feedstock includes used pallets, yard wastes and spent bamboo scaffolding. Black & Veatch says it will be responsible for preparing a reference design, assisting in procurement, supervising construction and commissioning, and then overseeing the Hong Kong pilot plant testing. The company says reducing waste is one of the Hong Kong government’s strategies to optimize resources and reduce landfill disposal, while supporting sustainability. Woody waste recycling is a core element of the city’s biowaste management strategy to divert biomass resources from landfills. Black & Veatch describes itself as an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. The United States-based company was founded in 1915 and says it has been involved in more than 100 countries in “addressing the resilience and reliability of our world’s most important infrastructure assets.” The firm had revenue of $3.5 billion in 2018. Nonresidential construction spending falls in March Among 16 nonresidential subcategories, 12 experienced a decline in spending on a monthly basis. National nonresidential construction spending fell 0.1 percent in March and is up 2.0 percent compared to the same time last year, according to an Associated Builders and Contractors (ABC) analysis of data published May 1 by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6 billion for the month. Among 16 nonresidential subcategories, 12 experienced a decline in spending on a monthly basis. Private nonresidential spending fell 1.3 percent from February, while public nonresidential construction spending increased 1.6 percent. “Today’s data release answers [some] precious few questions,” says ABC Chief Economist Anirban Basu. “The great debate has been whether the combination of pre-existing backlog as reported in ABC’s Construction Backlog Indicator and the classification of construction as an essential activity in much of the nation would help shield the sector from the downturn. Based on March construction spending data, industry activity largely proceeded apace, with recessionary forces impeding broader industry activity to only a limited extent.” However, Basu says the data are inconclusive. Economically, the pandemic impacted only a portion of March. Moreover, March represented only the tip of the iceberg in terms of the economic impact of COVID-19, as April was far worse. “Many general contractors are in the midst of discussions with developers and other consumers of construction services regarding potential project postponements and cancellations,” says Basu. “While the health of public finances held up in March, they collapsed in April as governors, mayors, county executives and others began to observe large gaps in budgets.” According to ABC’s Construction Confidence Index , confidence in sales, profit margins and staffing levels plummeted in late March. This strongly implies that pre-existing backlog may not be as potent a defensive mechanism as it typically is during the early stages of an economic downturn. “Furthermore, there have been anecdotal reports of construction projects shutting down temporarily due to lingering concerns about the need for aggressive social distancing and associated worker availability challenges,” Basu says. “All of this suggests that the March spending data may be supplying a false sense of industry-wide stability. Data characterizing construction spending in April and May will be far more instructive.”
Cedar Dumpster Manufacturing Frequently Asked Questions (FAQ)
Where is Cedar Dumpster Manufacturing's headquarters?
Cedar Dumpster Manufacturing's headquarters is located at 10798 68th Terrace, Live Oak.
What is Cedar Dumpster Manufacturing's latest funding round?
Cedar Dumpster Manufacturing's latest funding round is Corporate Minority.
Who are the investors of Cedar Dumpster Manufacturing?
Investors of Cedar Dumpster Manufacturing include American Made Dumpsters.
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