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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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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Larsen & Toubro Limited - India
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