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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- The Treasury - Australian Government
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
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