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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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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- The University of Queensland
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
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