When going into business especially with any company, it is very important that you check and confirm the credibility of the company or otherwise you might end up doing business with a scammer in which case you will most likely end up disappointed.
Here are some tips that will help you verify the credibility of Chinese companies:
- Does the company have a registered corporate number?
In China, once a company has been evaluated and confirmed to be legitimate by the government, the company is then registered and issued with a unique corporate registration number which uniquely identifies the business. It is therefore important that when you are verifying a company, ask for the corporate registration number confirm with the Chinese Local bureau of industry and commerce that the number is in fact valid. That way, you can keep safe from scammers who might use invalid corporate numbers.
- Does the company have a website?
All legitimate companies have fully functioning and legitimate websites. Some scam companies may however try to trick you that their website is under construction or they are still in the process of setting up one. Do not fall for this trick. Unless they have a credible website, there is a very high probability that they are scammers.
- Ensure the company has a bank account.
Legitimate companies have business bank accounts. That means that any payments that you are supposed to make should strictly be made through the business accounts. Therefore, if you find a company that wants you to make payments through personal bank accounts, you might want to re-check the credibility of that Chinese company. In essence, the rule is simple: no personal bank accounts!
- Verify the company-contact information and address provided
Most Chinese companies will provide you with their contact information once you show interest in their services and/or products. It is important for you to verify that the contact information is actually true and working. These may include e-mails, telephone number, location address and so forth. Ensure that the contacts are fully functioning and that the stated location of the company’s location is true.
- General company information
Perhaps, the best and the most overlooked way of verifying the company is doing a personal background check of the company. In the internet age, this has been simplified. Look up the company on the internet, check its history and its review from past clients and its credibility. This information is essential and it will greatly help you in filtering off the scammers.Read More
The OPEC Governor for Kuwait, Nawal al Fuzaia recently explained that the oil and gas industry would balance itself but, he claims that the industry needs to be patient.
The Governor made the statement whilst attending the Gulf Intelligence Energy Markets Forum in UAE. Fuzaia also explained that the imbalance that can currently be seen in the industry is a result of many factors and not just one. Previously, the imbalance has been put down to a decline in economic activity in China.
Fuzaia explained that China’s economic activity will resume and its slowdown is only a short term problem. He also mentioned that he did not think it would have an impact on the OPEC market share.
Back in November 2014, OPEC changed its policy. They made a radical decision and decided to go against prices by reducing output. This was because they wanted to defend their product and market share from other high cost supply sources and U.S. Shale Oil.
This policy change was not welcomed by OPEC but, Saudi Arabia and other countries located in the Gulf have stayed true to their word even though the price of oil has dramatically dropped. In fact, the price of oil has seen more than a fifty per cent decrease over the last year.
One reason why OPEC is unhappy with the policy change is that some of their members who are less economically secure have been deeply hurt. For example, Venezuela has been deeply impacted by the drop in price.
Fuzaia has further explained that in order for operations in the oil and gas market to improve, the company need more transparent data from China. This is to help those in the market better understand their requirements and demand.
He has clearly stated that this is not because those involved don’t trust China and the numbers they have given but, they are worried that the numbers they have given are a calculated demand and not the actual demand. These two numbers could be the same but, Fuzaia has explained that these two numbers could also be completely different.
OPEC are looking at ways to improve the oil and gas industry and in particular are hoping to support the Chinese economy. OPEC want to see sustainable and stable growth in both China’s demand and recovery but, if the country experiences a decline in demand, Kuwaiti crude oil would have to go to other markets.Read More
Scotland’s engineering sector has suffered tremendously recently. They have not only seen a deep decline in output volumes and incoming export business but, the sector has also seen a huge fall in new orders. This has been put down to both the strong english pound and the current worries in the oil and gas industry. But, unfortunately that is not the only thing that the Scottish engineering sector has to worry about.
A new survey was released by Scottish Engineering recently which also showed that the oil and gas industries workforce was taking a hit.
The survey which is released every three months showed that the low price of oil is starting to have an impact on those that work in the oil and gas industries. This includes those companies that produce equipment and components in the oil and gas sector too. Initially the oil crisis was just affecting oil companies directly, now it seems to be spreading to those that work alongside the oil companies too.
The Chief Executive of Scottish Engineering Bryan Buchan said: “This is a significant issue for many of our member companies, who are not directly involved in extraction on the UKCS (UK Continental Shelf), but who over the years have developed expertise in manufacture of components and equipment for the major players who are now radically curtailing their activities.”
He continued by sharing his opinion that the price of oil will stay low for a while. This opinion is currently widely expressed by a number of senior executives in the oil and gas industry.
Bryan Buchan also commented about the impact the strong english pound is having on companies within the Scottish engineering industry. The strength of the sterling pound means engineering organisations in the United Kingdom are less competitive than organisations overseas.
The survey by Scottish Engineering also showed that the industry was also experiencing a slump when it comes to orders from both the UK and incoming export business.
In fact, only twenty three per cent of engineering organisations based in Scotland experienced an increase in orders over the last three month period. A whopping forty four per cent experienced a fall in orders and the remaining stayed the same.
The organisation behind the surveys are expecting another fall in orders over the next survey in three months. But, they do expect the pace of the decline to slow slightly.
The report showed that only twenty six per cent of engineering companies based in Scotland increased their staffing levels. Unfortunately twenty seven per cent reduced their employee levels and the rest kept the same number of staff.
Worryingly for engineers in the oil and gas industry, this is actually the third time in a row in which the survey has noted a fall in employee numbers. But, it is not all doom and gloom, these declines have been modest.
Pressure vessels are very important components of the industry and are closely associated to daily life. They are structures such as pipes, bottles and vessels capable of holding internal pressure. Every industry small, medium, large or very large needs pressure vessels. Boilers are used for producing power. There are heat exchangers used in many industrial applications. Take the name of any industrial sector there oil tanks, pipelines, compressors for supplying compressed air for cleaning, pnuematic systems for instrumentation, pneumatic conveying sytems for transportion of solid, liquid and gaseous materials in the industry. Oil and gas industry, aerospace industry, marine industry, refrigeration and air conditioning systems use pressure vessels.
Safety issues with pressure vessels
Pressure vessels are associated with lots of safety risks. Any explosion of pressure vessel can be very dangerous to the workers and plant and machinery. There have been serious accidents in power houses, cement plants, steel plants, chemical plants and aerospace industry resulting lots of losses of human lives and to the industrial assets. Airplane cabins is a familiar examples of the pressure-containing structures. The atmosphere inside the cabin relative to the thin air outside is a serious threat to the airplane if cracks are developed. Number of fatal tragedies have occurred from this problem. The famous tragedy is of disintegration of Comet aircraft in flight in the 1950s is still fresh in memory. The loss of a 5-meter section of a roof of the first-class section of an Aloha Airlines B737 in April 1982 is another important case showing the gravity of the dangers associated with the pressure vessels.
Pressure vessel suppliers are very concerned to determine the stresses and deformations in structures such as these as it will be the crucial measure for the safety of structures as the first step in designing against failure.
Need for industry standards, code and enforcing agencies
The gravity of the consequences of damages to human life and property and the inconvenience they cause to the society is well understood by the manufacturers of pressure vessels. They are keen to adopt foolproof design of systems and components, selecting the right materials of construction and latest technologies in manufacturing the safe pressure vessels. Strictly following the industry standards and codes involving competent inspections in obtaining the right materials, inspection during the manufacturing and final inspection after the product is ready for use are of utmost importance for the manufacturers of pressure vessels. The safety of pressure vessels is not the concern of only the manufacturers of the pressure vessel but is for every one involved in the process like suppliers of the materials, equipment, instruments, testing agencies and enforcement bodies.Read More
With the rising population and growing economies the transport sector is faced with number of challenges like increasing number of vehicles on the roads, high fuel consumption, need for alternative fuels for use in the transport vehicles and more important the adverse impact on the environment. Almost all the major cities in all the countries face the challenge to meet the growing need for transport vehicles in the cities. The number of vehicles on the roads is increasing every year resulting in traffic jams, rising air pollution more accidents. Some of the major cities of the world like Delhi in India, San Ramon in California in USA, the city of the most famous project ‘The Silicon Valley Project’ and London in UK are experiencing the rising number of vehicles on the roads.
Government in some of the countries are forced to take immediate remedial steps to replace the petrol and diesel run vehicles by vehicles run on CNG fuel. The problem is becoming more serious in major cosmopolitan cities due to continuous inflow of people from other cities for various reasons like increased job opportunities, opportunities for business and trade and abundant educational facilities. This has made it essential to disperse the offices and commercial centers, hospitals and other day to day facilities to different locations throughout the cities thus increasing distances to travel. Due to rising cost of living in the metropolitan cities, a large number workforce lives in satellite cities and travels every day to the metropolitan cities for work adding to the number of transport vehicles on the road.
According to a report by Hexagon Composites, there is rising demand for the natural gas-powered buses and commercial trucks across developed economies around the world due to low prices for CNG gas. The cost of natural-gas fuels in North America is about 40 percent lower than diesel, per diesel gallon equivalent. Composites Forecasts and Consulting (Mesa, AZ, US) brought out in its study in 2013 that high-pressure gas storage vessels is going to be one of the fastest-growing markets for construction of types of pressure vessels representing global sales of more than US$2 billion. Bulk transportation of compressed natural gas (CNG) products, and fuel storage in passenger cars, buses and trucks with powertrains dependent on CNG and hydrogen alternatives to gasoline and diesel are going to be the main market potentials for the composite-reinforced pressure vessels.
Composites Forecasts and Consulting reported the number of natural gas-powered vehicles (NGVS) in the world at around 10 million five years back. These NGVs included cars, trucks, buses, and fork-lift vehicles. This number became more than 20 million by the year 2013 and is expected to be more than more than 65 million by the year 2023. Major junk of these NGVs (94 percent) are likely to be fitted with high-pressure fuel storage systems.
There is great opportunity for the manufacturers of high pressure vessels to meet the growing market demand. Along with the large opportunities in the future market for the high pressure vessels, the high pressure vessel manufacturers have lots of challenge to remain competitive in the market. Adoption of latest materials, latest technologies and manufacturing processes are going to be crucial for remaining competitive. It is the quality, cost and availability of the high pressure vessels which will decide a place for the high pressure vessel manufacturers in the competitive market.Read More