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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- The University of Queensland
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
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