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