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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Thai Mozambique Logistica
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- The University of Queensland
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
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