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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, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
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