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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
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- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
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