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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, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Indika Energy - Indonesia
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