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