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