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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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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
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