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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
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