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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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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
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- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
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