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