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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, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
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- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
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