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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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Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
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