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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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Australian Coal Association
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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