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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
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