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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- The University of Queensland
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- London Commodity Brokers - England
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