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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, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
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