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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, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
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