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