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