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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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Tuesday, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- The Treasury - Australian Government
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
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