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