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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
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