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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, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bhatia International Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
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