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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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Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
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