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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, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
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