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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, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
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