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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, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
Tuesday, 14 December 21
COAL LOCK-IN IN SOUTHEAST ASIA PRESENTS A CHALLENGE FOR THE ASIAN DEVELOPMENT BANK'S COAL RETIREMENT PLAN - IEEFA
In August, the Asian Development Bank (ADB) announced an ambitious plan to buy high emissions coal-fired power plants in Southeast Asia and retire ...
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- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Renaissance Capital - South Africa
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