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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, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
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