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