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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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Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
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- Australian Coal Association
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- The University of Queensland
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
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