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