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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, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
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- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
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