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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Australian Coal Association
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
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