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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, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
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- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
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