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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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Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Planning Commission, India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
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