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