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