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