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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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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- VISA Power Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
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