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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- PTC India Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Australian Coal Association
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
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