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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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- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- White Energy Company Limited
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
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