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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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Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- ASAPP Information Group - India
- The University of Queensland
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
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