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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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