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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
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