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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
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