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