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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
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