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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
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