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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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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- The University of Queensland
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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