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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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Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- The University of Queensland
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
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