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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, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
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