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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Commonwealth Bank - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
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