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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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Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
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- Petron Corporation, Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
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