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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Indonesian Coal Mining Association
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- PTC India Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Planning Commission, India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
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