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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
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