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