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Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
 • Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against price volatility
• The indices will serve as a barometer of the coal market in India covering various grades of coal, representing the domestic coal sold through spot eAuction in India
Marking a significant development for the coal industry in India, mjunction services, India’s largest eCommerce company today launched the country’s first and only ‘coal spot price index’ which would serve as a barometer of the coal market in India and provide a reliable price benchmark across the coal industry. The index is aimed at empowering Indian coal consumers, enabling them to avert risks against market price volatility.
After months of in depth research and testing, a team specially formed for the purpose, finally developed four separate indices. While MJcomposite would serve as a barometer of the overall coal market in India, the other three industry-specific indices would serve the steel, cement and power sector respectively.
• MJcomposite: A value-weighted spot price index covering all the grades auctioned through eAuction, representing more than 70 per cent domestic coal sold through eAuction in India. The index constitutes 60 different varieties of coal from various coal producing companies in India (under MoC).
• MJsteel: A value-weighted spot price index exclusively showcasing the performance of Grade B coal (GCV = 5,800-6,400 Kcal/Kg). All the buyers/sellers of Grade B coal can use this index as a benchmark. Major consumers that will benefit from the index would be the steel and sponge iron sector, paper industry, etc.
• MJcement: A value-weighted spot price index exclusively showcasing the performance of Grade C coal (GCV = 5,400-5,800 Kcal/Kg). All the buyers/ sellers of Grade C coal can use this index as a benchmark. The index will serve as a very useful tool for coal consumers in the cement industry.
• MJpower: A value-weighted spot price index exclusively showcasing the performance of Grade E and F coal (GCV = 3,600-4,800 Kcal/ Kg). About 52 per cent of total coal offered through eAuction mode. The index will serve as a very useful tool for coal consumers in the power sector as well as CCP units.
The index will be a free service for all users of coaljunction (www.coaljunction.in) permitting them to view the index values and take informed decisions pertaining to their coal buys and sales.
Benefits of coal spot price index
• Understanding of the price movement (based on demand and supply) for Indian coal
• As a landed price benchmark for finalising the coal imports
• As a benchmark for secondary market transactions
• Can be used as a Final Settlement of Coal Futures Contract
• To implement risk management
• Buyers can hedge their risk using various financial products (index linked deals, SWAPS, other customised products) linked with the index
Speaking on the occasion, Viresh Oberoi, managing director, mjunction services said, “The coal spot price index is a service from coaljunction – a dedicated business unit of mjunction which deals with coal eSales. The coal industry in India, has relied till date on the international coal spot price indexes like Richards Bay Coal – API-3 from South Africa, Global Coal (RB and NC), Japan Power Utility Index, Australian New Castle Coal – API-3 and ACR Asian Index to name a few. With the advent of ‘MJcomposite, MJsteel, MJcement, MJpower’ the industry will now have a much more accurate and authentic coal price benchmark.”
Unveiling the coal spot price indices at a function held at Kolkata, AK Sarkar, director – marketing, Coal India, said, “The coal spot price index developed by mjunction is a very significant step in the development of price benchmark in the Indian coal sector. Unrestricted availability of information of the prices is a very important feature of any well functioning market. I hope, the coal spot price indices will eventually work as a benchmark when the coal derivative market takes root in India and buyers and sellers can hedge their risks through the use of coal derivatives.”
Mr Oberoi further added, “We are delighted that our expertise in the coal market will now benefit all the stakeholders of the coal industry. We are optimistic that our coal spot price index being the country’s first such index, will now reduce dependence of the coal producers, consumers and traders on the international price benchmarks while conducting coal business transactions. When the current domestic demand of coal is estimated at 660 million tonnes by 2009-10 with a further import potential of 100 million tonnes by 2012, our coal spot price indices are deemed to play a crucial role in managing coal trade in our country and overseas.”
The launch of the coal spot price index signifies mjunction’s focus on the use of technology and knowledge based services to empower its customers. It also demonstrates the deep insights and domain expertise that coaljunction has been able to develop over the years and then coming up with innovative services for the betterment and development of the coal industry as a whole.
Continuing to be a prime platform for knowledge gathering and exchange across diverse subjects ranging from coal, steel, non-ferrous metals, minerals, sourcing, logistics, mjunctionedge – the content and conference division of mjunction – is also organising the ‘3rd Indian Coal Markets Conference 2009’ scheduled on October 6-8, 2009 at New Delhi.
To be organised in association with ‘The McCloskey group’ it will cover all aspects of the coal supply chain beginning from exploration right up to consumption across various sectors. The conference is expected to see buyers, major coal producers’ analysts and key industry stakeholders from all over the world discuss their strategies on fulfilling the ever-increasing demand for coal, share insights on the coal imports, identify, network and promote future business prospects.
The conference thus promises to be an active discussion ground wherein key national and international speakers like Eoghan Cunningham – CEO, globalCoal, Dan H Chu – MD, mergers and acquisitions group, UBS Investment Bank, Bruce Hartshorn – senior VP of met-coke and export sales, Alpha Coal Sales, A Laxminarayana – VP, marketing and operations, eastern region, Coal & Oil, Jack Kellet – executive director, energy risk management, Mitsui, BK Chaturvedi – member, Planning Commission, Government of India, RV Shahi –chairman, Energy Infratech, A Sarkar – director marketing, Coal India, NC Jha – director technical, Coal India, TK Chatterjee – executive director, fuel management, NTPC, and many other dignitaries highlight the opportunities and issues faced by the coal market in India as well as globally.
Source: TATA
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Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
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- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- The University of Queensland
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
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