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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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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Rashtriya Ispat Nigam Limited - India
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- Energy Link Ltd, New Zealand
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- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
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- Wood Mackenzie - Singapore
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- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
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- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
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- Global Green Power PLC Corporation, Philippines
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- Tamil Nadu electricity Board
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- Economic Council, Georgia
- Bangladesh Power Developement Board
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- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
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- Indian Energy Exchange, India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- White Energy Company Limited
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
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- Mintek Dendrill Indonesia
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- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
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- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
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- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
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- Parry Sugars Refinery, India
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