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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Australian Coal Association
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- The University of Queensland
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
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