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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Planning Commission, India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
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