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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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- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
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