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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 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
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