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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- PTC India Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
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