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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
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