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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, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
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