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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, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
Friday, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
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- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Planning Commission, India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
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