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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
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