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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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
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