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