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