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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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- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- The University of Queensland
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Aditya Birla Group - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
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