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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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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
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