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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, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
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- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
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