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