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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
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