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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
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