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