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