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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
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