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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, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Carbofer General Trading SA - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
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