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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 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
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