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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Aditya Birla Group - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
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