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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, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
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- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Heidelberg Cement - Germany
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