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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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Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
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- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
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