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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
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