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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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Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- The University of Queensland
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
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