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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
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