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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, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- London Commodity Brokers - England
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
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