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Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
 Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as December to help fund spending on roads and education and rein in the fiscal deficit.
“We will do it by December or January,” Power Secretary H.S. Brahma said by telephone in New Delhi yesterday, after the Cabinet approved the plan to sell the stake in the state-owned utility. “We will take a decision on the timing of the sale in a few days.” Brahma is the top bureaucrat in the power ministry.
Prime Minister Manmohan Singh is taking advantage of an 80 percent gain in India’s benchmark stock index this year to sell stakes in state-owned companies. The government has raised about 42 billion rupees ($913 million) since April 1 by selling shares in NHPC Ltd. and Oil India Ltd. The NTPC sale may yield 88 billion rupees, according to Bloomberg calculations based on its Oct. 17 closing price that valued the New Delhi-based utility at $38 billion.
“This should help a little in narrowing India’s fiscal deficit,” Viswanathan Vasudevan, a Singapore-based fund manager at Aquarius Investment Advisors Pte., said by telephone today. “The government needs to continue with its theme of disinvestment since the deficit is quite large.”
India plans to borrow a record 4.41 trillion rupees in the year ending March 31, widening the budget deficit to a 16-year high of 6.8 percent of gross domestic product, from 6 percent in the previous year.
NTPC has climbed 18 percent in Mumbai trading this year, lagging behind the Bombay Stock Exchange’s Sensitive Index and a 90 percent surge in rival Tata Power Co. The stock fell 0.6 percent to 213.60 rupees on Oct. 17 when the market traded in a special truncated session on Diwali, the festival of lights that marks the start of the Hindu new year.
Government Equity
The government’s equity in NTPC will fall to 84.5 percent after the sale from 89.5 percent. Part of the shares will be offered to NTPC employees, Commerce and Industry Minister Anand Sharma said yesterday, without elaborating on the timing.
“It is expected that the market capitalization of NTPC would be higher and it would help the company to raise resources in the international market on competitive terms,” the government said in a statement after a meeting of the federal cabinet in New Delhi yesterday.
NTPC plans to spend 177 billion rupees to increase its generation capacity by about 10 percent in the financial year ending March 31. The utility said last month it was evaluating an offer to buy a South African coal mine and is considering a coal- mine purchase in Indonesia to help secure fuel supplies.
The government sold a 5 percent holding in NHPC to the public for 20 billion rupees in August, while state-run refiners bought 10 percent in Oil India from the state for about 22 billion rupees the following month.
India should aim to raise as much as 250 billion rupees a year from asset sales, the finance ministry said in a July 2 report. Proceeds from the sale of the government’s stake in state-owned companies go to a separate fund meant for social- sector spending, including job creation and improving health care and education.
Source:Bloomberg
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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
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