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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, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
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- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
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