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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
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