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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
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