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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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Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
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- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
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- Gujarat Electricity Regulatory Commission - India
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- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
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- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
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- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
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- Independent Power Producers Association of India
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- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
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- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
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- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
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- Marubeni Corporation - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Coal and Oil Company - UAE
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- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
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- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
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- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
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- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
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- Savvy Resources Ltd - HongKong
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- Larsen & Toubro Limited - India
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- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
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- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
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- Georgia Ports Authority, United States
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- Lanco Infratech Ltd - India
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- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
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- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
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- Bhatia International Limited - India
- Commonwealth Bank - Australia
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- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
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- The University of Queensland
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