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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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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- VISA Power Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
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