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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
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