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