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