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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
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