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