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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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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
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