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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
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