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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, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
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- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Australian Coal Association
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Planning Commission, India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- GMR Energy Limited - India
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