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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, 01 September 21
KOMIPO TO BUY 1.56 MILLION TONS OF 5600 NAR COAL OF AUSTRALIA OR SOUTH AFRICAN ORIGIN FOR 2022 - 2024
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Wednesday, 01 September 21
MARKET INSIGHT - INTERMODAL
As the summer season is coming to an end, the dry bulk market continues to rally. The confidence that the outstanding freight market performance ha ...
Monday, 30 August 21
68% OF U.S. COAL FLEET RETIREMENTS SINCE 2011 WERE PLANTS FUELED BY BITUMINOUS COAL - EIA
In 2011, the United States had 317.6 gigawatts (GW) of coal-fired electric generation capacity. About 88.7 GW of that capacity was retired in the d ...
Friday, 27 August 21
ALL YOU NEED TO KNOW ABOUT COAL'S MASSIVE RALLY AND NEAR-TERM OUTLOOK - CNBCTV18
Australia’s thermal coal at Newcastle Port, the benchmark for the vast Asian market, has surged over 100 percent this year to trade above $16 ...
Friday, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
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- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Romanian Commodities Exchange
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- The University of Queensland
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
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