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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
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