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