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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
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