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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- VISA Power Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
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