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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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Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Lanco Infratech Ltd - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- VISA Power Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
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