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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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