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