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