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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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Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Indonesian Coal Mining Association
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
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