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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- The University of Queensland
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
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