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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 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
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- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Minerals Council of Australia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
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