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