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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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- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- The University of Queensland
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
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