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