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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
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