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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Planning Commission, India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
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