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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, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Australian Coal Association
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
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