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