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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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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- White Energy Company Limited
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
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