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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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Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
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