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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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
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