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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
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