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