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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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
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