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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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- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
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