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