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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
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