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