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