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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, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
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- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- MS Steel International - UAE
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
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