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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Minerals Council of Australia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
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