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