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