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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
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- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
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- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
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- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Economic Council, Georgia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
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- Parry Sugars Refinery, India
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- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Orica Australia Pty. Ltd.
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- Gujarat Electricity Regulatory Commission - India
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- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
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- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
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- Mercuria Energy - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
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- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
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- Romanian Commodities Exchange
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- Dalmia Cement Bharat India
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- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Anglo American - United Kingdom
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- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
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- Indian Oil Corporation Limited
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- Petrochimia International Co. Ltd.- Taiwan
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- Bayan Resources Tbk. - Indonesia
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- Australian Coal Association
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- Videocon Industries ltd - India
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- GAC Shipping (India) Pvt Ltd
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- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
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