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Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
 Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ICICI’s report.
Power - Underperform
The power sector in CY11 was characterized by robust capacity addition (12737 MW taking total capacity to 185,496 MW), tariff hikes, fuel shortages, back down by SEBS, change in Indonesian coal law and rise in interest rates. ICICIdirect expects capacity addition to be robust in CY12 (our bottom up analysis suggests that nearly 9400 MW can be added in CY12). ICICIdirect is cautious as structural issues like policy reforms and fuel shortages are more critical than cyclical factors like falling interest rates. One should stick to regulated entities like NTPC, NHPC (regulated players, less fuel risk, high Actual Contract Quantity from Coal India, sustainable earnings growth via capacity addition).
Metals and Mining - Underperform
CY11 was a challenging year for the metals and mining sector on the back of a muted demand scenario, elevated raw material costs and restriction of mining of iron ore in certain areas. During the first nine months of CY11, prices of key raw materials such as iron ore and coking coal were on an upward trend while in Q4CY11 along with a decline in raw materials costs steel prices also tapered off resulting in no respite for steel companies. As a result, on the back of elevated cost structure the operating margins of steel players remained under pressure for CY11. Going forward, on the back of global uncertainty and a muted demand scenario, ICICIdirect expects global steel demand to remain subdued in CY12.
Cement - Underperform
Cement demand has been sluggish in the past 20 months (growth of 4.4% in FY11 and 4% in YTD FY 12) due to muted off take from construction activities. ICICIdirect finds that cement demand growth has a high correlation with gross fixed capital formation growth as it captures the construction activities. GFCF declined 0.6% in Q2FY12 on account of a slowdown in infrastructure investments, keeping cement demand under pressure. ICICIdirect expects cement demand to grow by 4.5% in FY12E and 8% in FY13E.
Shipping - Underperform
The shipping industry is currently passing through a downturn, which is likely to be prolonged. A moderation in demand and substantial increase in supply on account of new vessel additions is expected to keep freight rates subdued.
(Source : IRIS /Steelguru)
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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Planning Commission, India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
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