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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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Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
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