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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Australian Coal Association
- Xindia Steels Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
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