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