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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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Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
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- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Rio Tinto Coal - Australia
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