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