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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, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- The Treasury - Australian Government
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
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