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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, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
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