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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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- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Planning Commission, India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
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