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