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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- White Energy Company Limited
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