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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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Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Australian Coal Association
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- The University of Queensland
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
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