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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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Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
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