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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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Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Sical Logistics Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
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