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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Planning Commission, India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
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