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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, 02 February 22
MARKET INSIGHT - INTERMODAL
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Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
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In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
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