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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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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- White Energy Company Limited
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
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