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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Australian Coal Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
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