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