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