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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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Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
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- Economic Council, Georgia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
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