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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, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- The University of Queensland
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
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