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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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