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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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Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
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