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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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Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
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