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