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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
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