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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
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- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- The University of Queensland
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
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