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