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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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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
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