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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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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
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