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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
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