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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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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
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