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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, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Economic Council, Georgia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
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