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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
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